California AB 1864, the California Consumer Financial Protection Law (CCFPL) and SB 908, the Debt Collection Licensing Act, require the licensure, regulation, and oversight of California debt collectors by the Department of Financial Protection and Innovation. Starting on January 1, 2022 all persons who regularly engage in the business of debt collection are required to obtain a DFPI license and post a $25,000 Debt Collector bond.
The CA Debt Collectors Bond is in place to protect consumers from unfair, unlawful, deceptive or abusive collection practices such as threats of arrest, violence or harm. Other names for this bond include: CA Debt Collector Bond, CA Collection Agency Bond, and CA Debt Collection Licensing Act Bond
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