California SB1131 establishes the Debt Collector Licensing Act, regulating debt collection activities in the state.

California SB1131 amends the Financial Code to establish the Debt Collector Licensing Act, requiring debt collectors to obtain a license from the Commissioner of Financial Protection and Innovation. The act defines key terms such as "debt collector," "consumer debt," and "debt collection." It outlines the duties of the commissioner, including examining licensees, levying fees, and revoking licenses for violations. The Debt Collection Advisory Board advises the commissioner on debt collection matters.

California SB1131 establishes the Debt Collector Licensing Act, regulating debt collection activities in the state.

California SB1131 amends the Financial Code to establish the Debt Collector Licensing Act, requiring debt collectors to obtain a license from the Commissioner of Financial Protection and Innovation. The act defines key terms such as "debt collector," "consumer debt," and "debt collection." It outlines the duties of the commissioner, including examining licensees, levying fees, and revoking licenses for violations. The Debt Collection Advisory Board advises the commissioner on debt collection matters.