Resolution commends DBA’s Receivables Management Certification Program
Sacramento, CA, March 30, 2015 – The Michigan Legislature adopted a resolution on March 26, 2015 recognizing and commending DBA International for its efforts to protect consumers and creditors through its national Receivables Management Certification Program. Senator Margaret O’Brien offered Senate Resolution No. 33 which was also sponsored by Steven M. Bieda, Darwin L. Booher, Jack Brandenburg, Goeff Hansen, Mike Kowall, Wayne A. Schmidt, Dale Zorn. The resolution was adopted with unanimous support from the Legislature.
The resolution noted that the comprehensive national standards contained in DBA International’s certification program exceed state and federal laws and regulations through a series of stringent requirements that stress responsible consumer protection through increased transparency and operational controls. It also included reference to DBA’s requirement for all member companies who purchase receivables on the secondary market to become certified by March 1, 2016, as a requisite for membership in the trade association.
The Senate concluded the resolution, “we hereby recognize and commend DBA International for its efforts to create a gold standard in receivables management for the protection of consumers and to provide additional assurances to banks, credit unions, and other originating creditors that those companies they transact business with on the secondary market have committed to exceed the standards established by the state and federal government for the management and collection of receivables.”
By becoming a Certified Professional Receivables Company (CPRC), DBA members demonstrate to the financial services industry, regulators, and consumers they comply with the highest ethical standards. Company certifications are granted to debt buying companies, as well as law firms and collection agencies, that comply with the uniform certification standards based on industry best practices including consumer complaint and dispute resolutions, data security, statute of limitations, registering with the CFPB, employee background checks, etc. Debt buying companies holding the CPRC designation are required to submit to three distinct compliance audits, including audits performed by independent third-party auditors in order to maintain their certified status.
Read the resolution
Learn more about DBA International’s certification program