Changes in State Regulations: RI and CO
Rhode Island Debt Collection Licensing Requirements have changed.
Historically, there has been no statutory requirement for licensing or registering a collection agency in the state of Rhode Island. Senate Bill 34 (Rhode Island Fair Debt Collection Practices Act) was approved in July 2007 and changed that. The application to register is now available and agencies have until July 1, 2008 to properly register with the Rhode Island Department of Business Regulation.
*Source - Cornerstone Support Inc
Colorado Law changes wording on initial collection notices
On June 2, 2008, Colorado Governor Bill Ritter signed into law Colorado H.B. 1240, which makes significant changes to the Colorado collection regulations. The bill is effective July 1, 2008.
The new law imposes an additional state special text requirement. Under the new law, initial collection notices must include the statement, "A consumer has the right to request in writing that a debt collector or collection agency cease further communication with the consumer. A written request to cease communication will not prohibit the debt collector or collection agency from taking any other action authorized by law to collect the debt." If the notice is placed on the back of the written communication, there must be a statement on the front of the letter notifying the consumer of the information on the back.
*Source - ACA International