Welcome to DBA International’s mid-month communication, designed to keep you informed about the work that is taking place on their behalf, and remind you of important news and updates. This is a ‘members only’ publication so you need to login to view on the website.
Advocacy
DBA serves as the voice of the debt buying industry, representing members before federal and state agencies and in the courts. Here are some of the initiatives that we’ve undertaken in the last month:FEDERAL ACTIVITYGLBA Notice Waiver Passed!
The biggest news on the Federal front was the inclusion in the GLBA Notice Waiver language in the big transportation bill the President signed last week. As noted in the Member Alert, effective immediately unless your privacy policy changes, you are no longer required to send the annual notice. Of course, contact your attorney for specific advice for your business, but this change is anticipated to save the industry several million dollars annually! DBA Spends Two Days in Washington DC
Representatives from DBA International spent two days in Washington DC last week meeting with staff on Capitol Hill, meeting with the CFPB Markets Research Division, and with various trade groups building partnerships and promoting debt buying. Of particular note was our meeting with the U.S. Chamber of Commerce, the National Council of Better Business Bureaus and the Healthcare Financial Managers Association (HFMA). These meetings help the industry in various ways, and are an example of how DBA continually promotes the industry to ensure it remains viable and a key component of the credit cycle.
Where are we in the CFPB Rulemaking Process?
The timeline for rulemaking is probably one of the most asked questions by our members! Information obtained this week from our DC meetings indicate that at best, we may see the SBREFA panels held sometime in the Spring, maybe April. With other rules, it looks like it is about 10 months after the SBREFA hearings before the CFPB actually issues proposed rules, so that takes us to the beginning of 2017. Once proposed rules are issued, there will be a comment period followed by the CFPB analysis of the comments before final rules are issued. Based on this timeline, final rules probably won’t be issued until late 2017. This timeline is unfortunate as it leaves the industry with prolonged uncertainty as clear rules are critical for business to grow and prosper. However, we will get a glimpse of what the CFPB is considering for rules when the SBREFA outline is made public as this may serve as a roadmap of the final rules.
State Legislative Activity
– Legislatures in Session: 6
– Bills in Active Status: 18 out of 101
– DBA Retained Lobbyists: 5 (CA, ME, MA, MI, NY, and OR)
– Active Negotiations: 1
Massachusetts SB 146 – As reported on previously, legislation has been introduced in Massachusetts with the most restrictive provisions seen anywhere in the U.S. — going far beyond the California and New York new rules and regulations. DBA testified on this bill in October followed by a lobby day on December 9th where we met with key legislative leaders, bill sponsors, the Governor’s Office and the Attorney General’s office. Based on these meetings, DBA is fairly confident that the flawed nature of the bill is now understood which will result either in the legislation failing or in amendments beneficial to the industry.
STATE ATTORNEY GENERAL UPDATE
In December, DBA International met with the consumer protection staff in the Massachusetts and New York attorney general offices. The conversations included a dialogue on the benefits of DBA Certification and the types of collection-related complaints they are receiving. In 2016, DBA will have met with over 50 percent of the state AG consumer protection divisions.
Certification
Two (2) months left to complete your certification! Worried about completing education credits? DBA’s Annual Conference will have 15 credits available!
1. Individual Certification of Chief Compliance Officer:Each company working toward their company certification needs at a minimum one (1) employee with the title or designated as the Chief Compliance Officer to obtain the individual Certified Receivables Compliance Professional (CRCP) designation. To achieve this certification, the individual must complete 24 hours of continuing education in the prior two (2) years from date of application. Individuals submit their application when they complete all 24 credits.
2. Company Certification: Completing the company certification is the corresponding step in the process. You need to complete a self-audit of your company’s operations to confirm compliance with all Series A and Series B standards to obtain the Certified Professional Receivables Company (CPRC) designation for debt buying companies. When the self-audit is complete, you submit your company application. An external audit will need to be performed upon your renewal in two (2) years after your company becomes initially certified.
Companies
Capio Partners
Capital Recovery, LLC
Cascade Capital. LLC.
PCA Acquisitions V, LLC
CKS Financial
Halsted Financial Services LLC
Windy City Management LLC
Individuals
Syed Ali, Halsted Financial Services
David Barrett, Portfolio Investment Solutions, LLC
Nicole Gelinas, EZ Messenger
Ken Hamill, Resurgent Capital Services
Paul Andrew McLoughlin, National Judgment Recovery Center
Pran Navanandan, Halsted Financial Services
Tina Suppa, CKS Financial
Steven Thorne, Hilco Receivables
Adam Wertman, National Recovery Solutions, LLC
Adam Craig. Michael Haynes & Associates
Leonard Halzel, Michael Haynes & Associates
Stephanie La Fortune, Platinum Holdings Group, LLC
Michael Halzel, Michael Haynes & Associates
View all certified companies and certified individuals on our website.
Education
Authorized Education Providers
DBA approved two (2) new Authorized Education Providers for the month of December. The National Alliance of Buy Here Pay Here Dealers (NABD) and National Tax Lien Association (NTLA), are the newest additions to our ever growing list of providers for individual certification education needs.
To see a complete list of our Authorized Education Providers, please click here.
Online Education
DBA offers a robust lineup of educational programs for professional development and credits towards your individual Certified Receivables Compliance Professional (CRCP) designation.
- Upcoming Webinars:
- Federal Regulatory Update: Wednesday, December 16th
- New Developments in Credit Reporting and Scoring: Thursday, January 14th
- Recorded Webinars: If you missed a live webinar, they are all recorded and available on our website.
Propose an Educational Presentation
If you have any innovative or insightful ideas for future webinar topics or other educational programs, or if you would like to be a presenter on a specific topic, please use our Proposal Submission Form on our website which is available year-round.
2016 Annual Conference
Register for DBA Annual Conference, February 9-11, 2016 – Don’t Get Left Behind Registration for the DBA International Annual Conference Moving Forward Together is open and now INCLUDES pre-conference! This bonus allows conference attendees to earn up to 15 credits towards certification or recertification by attending the pre-conference and conference sessions. The main conference features three education tracks that are critical for moving your businesses forward: Compliance, Operations and Expanding Markets. Book Your Hotel Room Now!
A room rate of $195 (including resort fee) has been negotiated for Annual Conference attendees at Aria Resort & Casino. Contact the Aria directly by calling (866) 359-7757 and indicate your group is DBA International.Attendee Advisory
DBA has learned that “room pirate” companies have been contacting potential attendees indicating a connection with the DBA Annual Conference in an attempt to book rooms at the Aria. These scam artists are NOT associated with DBA International and no outside company should contact you to solicit/book reservations at the Aria.
Contact Sylvia Done at sdone@dbainternational.org or call (916) 482-2462.
Membership
Renew your membership by December 31; save up to $400 on conference registration and avoid a $100 late fee! Membership renewal for 2016 is due by December 31st. Click here to renew your dues online, then select “Renew My Membership”. Starting January 1, 2016 a $100 late fee will be applied to all open renewal invoices.Make the Most of Your Membership: Tip of the month Involved members experience the greatest benefits. Here’s a tip for the month:
- Attend the industry-renowned DBA International Annual Conference (in February) and the Executive Summit each summer for an opportunity to network with the best and brightest in the industry.
Welcome New Members
(since November 15, 2015)
The DBA International membership continues to grow. Welcome to our newest members:
- Capital Asset Management, Inc.
- Lippman & Reed, PLLC
- Mid Atlantic Portfolios, LLC
- NDA Investments Corporation
- Solutions by Text
- Stephen L. Bruce & Associates
The following DBA members have been instrumental in recruiting the above new members. Thank you for your effort!
- John Guerrini, The Guerrini Law Firm
- Rance Willey, Troy Capital
- Brian Williams, BDO Financial, LLC dba BuyingDebt.org
Did you know that DBA members can search for other members on the Member Search page?
Weekly CFPB Updates
Read the latest news about the CFPB
Every week, DBA posts updates on the actions and activities of the CFPB. Published by Arnall Golden Gregory LLC, these updates provide an easy-to-read digest of CFPB activity each week. Or you can access the entire library of weekly updates to find out about past actions that are likely to impact your business.
Other Industry Events
DBA International works to open new markets and promote the industry at various conferences and events throughout the year (look for us at these upcoming events). Also, you can earn education credits towards certification at these events.
| DATE | EVENT/LOCATION |
| Feb. 9 – 11 | DBA International 19th Annual Conference; Las Vegas, NV |
| Mar 29 – Apr. 1 | 10th Annual Credit and Collection News Conference; Jacksonville, FL |
Public & Media Relations
Public & Media Relations
Let us bolster your public image and share your story! It’s that festive time of year, and we know that RMA International member companies are making a positive difference in their communities. Share your story with us and we’ll post on the RMA Members in the Community page on our website and the RMA LinkedIn page. Any time during the year you have a community involvement story to share, forward it to Jason Litchney at jlitchney@rmaintl.org.