The DBA International Board of Directors and Certification Council have adopted version 2.0 of its Debt Buyer Certification Program.
By creating a national standard for compliance and consumer communication, DBA International is able to ensure that its certified members are acting in an ethical and legally compliant manner. Its members practices exceed the consumer protection requirements of state and federal law.
DBA International announced in February 2013 that members amended the organizations bylaws making Debt Buyer Certification a requirement for DBA membership by 2016.
Among the substantive changes in version 2.0 are adjustments to the data and document requirements, the addition of new standards concerning affidavits, representations and warranties, and payment processing.
These enhancements incorporate recommendations received over the last year from state and federal regulatory agencies, consumer groups and DBA International members.
Many of the changes were suggested by the CFPB and the FTC. Both agencies favorably commented on the early stages of this program. Additionally, several originating creditors have incorporated the DBA International Certification Program into their due diligence and approval process; some have made Certification a pre-requisite for bidding on portfolios.
DBA International President Bryan Faliero commented, The DBA Certification efforts have been noticed not just by federal regulators, but also by originating lenders and consumer groups. DBA International continues to set and raise the bar for participation within the receivables market. The dynamic nature of the Certification Program is what will continue to benefit all members and consumers into the future.
An eleven member Certification Council serves as the governing body administering the Certification Program. These eleven individuals provide a cross section of the industry, allowing for a free exchange of ideas and perspectives that influence the creation, implementation, and improvement to the Certification process.
DBAs Certification Program consists of a company-based designation, the Certified Professional Receivables Company (CPRC), and an individual-based designation, the Certified Receivables Compliance Professional (CRCP).
Certification is a requirement for DBA International membership. Members have until 2016 to meet the certification requirements. More information on the DBA Certification Program is available at:
