DBA International Launches Version 3.1 of the Receivables Management Certification Program

In DBA International’s pursuit of continuous improvement, we are proud to announce the adoption of version 3.1 of the Receivables Management Certification Program. The Certification Program offers two distinct certification designations – the “Certified Professional Receivables Company” (CPRC) for companies and the “Certified Receivables Compliance Professional” (CRCP) for individuals.

The uniform industry best practices for companies contained in the CPRC designation sets a standard higher than that required by state and federal law for those debt buying companies, collection law firms and third party collection agencies. Financial institutions and other originating creditors can be confident when working with CPRC companies. These companies hold themselves to higher expectations and rigorous standards for consumer protection and transparency that are subject to independent third party auditing.
Among the changes contained in Version 3.1:

• Education Credits – Increases from 12 to 16 the number of biennial educational credits a person can receive online (out of the 24 credit requirement) toward their CRCP designation.
• Standard # 4 (Employee Training Program) – Clarification that employees should be trained on how to comply with applicable: (i) Certification Standards, (ii) corporate policies and procedures, and (iii) laws and regulations.
• Standard # 15 (Vendor Management) – Adds checking certification status and reviewing complaints on the CFPB portal as additional examples of vendor due diligence.
• Standard # 20 (Resale) – Adds a requirement that certified companies conduct “reasonable due diligence” on a purchasing company before selling accounts to that company.
• Standard # 26 (Consumer Complaint) & Standard # 29 (Client Communications) – Adds complaints received from the Federal Trade Commission (FTC), state consumer regulatory agencies, and state and federal attorneys general to the types of complaints a collection law firm and third party collection agency must transmit to its affected clients.

Additional information and resources on DBA International’s Receivables Management Certification Program can be found on the DBA International website.

About DBA International

DBA International (DBA) is the nonprofit trade association that represents more than 575 companies that purchase performing and nonperforming receivables on the secondary market. DBA’s Receivables Management Certification Program and its Code of Ethics set the “gold standard” within the receivables industry due to its rigorous uniform industry standards of best practice which focus on the protection of the consumer. DBA provides its members with extensive networking, educational, and business development opportunities in asset classes that span numerous industries. DBA continually sets the standard in the receivables management
industry through its highly effective grassroots advocacy, conferences, committees, taskforces, publications, webinars, teleconferences, and breaking news alerts. Founded in 1997, DBA International is headquartered in Sacramento, California.

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Editor’s note: insideARM is an authorized provider of certification credits. Those items that qualify include this notice: “This product is approved for DBA International Certification Credit.”