Chapter 5Advisory Committee

Section § 100025

Explanation

This law establishes a Debt Collection Advisory Committee within the Department of Financial Protection and Innovation. The committee advises the commissioner on debt collection issues, including fee schedules and regulations. It consists of seven members, including one consumer representative, all appointed voluntarily by the commissioner for two-year terms, with no compensation. Members can resign anytime, and the committee must meet at least twice a year. The commissioner can set additional rules for the committee's operation.

(a)CA Financial Code § 100025(a) There is within the Department of Financial Protection and Innovation, a Debt Collection Advisory Committee.
(b)CA Financial Code § 100025(b) The Debt Collection Advisory Committee shall advise the commissioner on matters relating to debt collection or the debt collection business, including proposed fee schedules and the mechanics and feasibility of implementing requirements proposed in regulations.
(c)CA Financial Code § 100025(c) The Debt Collection Advisory Committee shall consist of seven members; one of whom shall represent consumers.
(1)CA Financial Code § 100025(c)(1) The members of the Debt Collection Advisory Committee shall be appointed by the commissioner.
(2)CA Financial Code § 100025(c)(2) The term of a member of the Debt Collection Advisory Committee shall be two years. However, a member may be reappointed.
(3)CA Financial Code § 100025(c)(3) Membership in the Debt Collection Advisory Committee shall be voluntary. No person shall be required to accept an appointment to the Debt Collection Advisory Committee, and any member may resign at any time by filing a resignation with the commissioner.
(4)CA Financial Code § 100025(c)(4) No member of the Debt Collection Advisory Committee shall receive any compensation, reimbursement for expenses, or other payment from the state in connection with service on the Debt Collection Advisory Committee.
(d)CA Financial Code § 100025(d) The Debt Collection Advisory Committee shall meet at least twice each calendar year.
(e)CA Financial Code § 100025(e) The commissioner may, by order or regulation, prescribe rules governing the Debt Collection Advisory Committee and its members, including, but not limited to, matters relating to meetings, quorum, and actions.
Debt Collection Advisory Committee Department of Financial Protection and Innovation commissioner debt collection business advisory role consumer representative two-year terms voluntary membership meeting frequency committee rules appointment process unpaid service regulatory advice resignation process committee operations
(Amended by Stats. 2022, Ch. 452, Sec. 166. (SB 1498) Effective January 1, 2023.)