Connecticut and Washington State Licensing Takes Effect October 1st
DBA International members are reminded that the new Connecticut and Washington state licensing requirements for debt buyers are set to take effect on Tuesday, October 1, 2013. If you own accounts that belong to either Connecticut or Washington residents, please make sure that your company has taken the necessary steps to become licensed and that you have received your license in the mail. There are no statutory grace periods for companies who have submitted timely applications but are
awaiting a response. However, in the case of Connecticut, the Department of Banking is administratively taking a “no-action” enforcement position regarding unlicensed activity if applications for licensure are filed before the close of business on September 30, 2013 (a notice to this effect has been posted on
their website).
If your company is required to become licensed but you have not received a license yet, DBA encourages you to immediately consult with an attorney of your choice for legal advice concerning this matter to ensure that you do not violate these laws.
Connecticut – For more information on becoming a “Licensed Consumer Collection Agency” please contact Jeff Hubbell or Anne Cappelli at (860) 240-8200 or visit their website. Washington – For more information on becoming a “Licensed Collection Agency” please contact the Washington State Department of Licensing at (360) 664-1389, by email at [email protected], or visit their website.