CA SB908

Establishes the Debt Collection Licensing Act requiring debt collectors to obtain a license from the Commissioner of Business Oversight beginning January 1, 2022, and prohibits unlicensed debt collection in California.

Expands prohibited debt collection practices under the Rosenthal Fair Debt Collection Practices Act to include placing telephone calls without disclosing caller identity and sending written or digital communications that do not display the debt collector's California license number in at least 12-point type.

Requires licensees to maintain a minimum $25,000 surety bond, file annual reports with the commissioner disclosing collection activity and California debtor account information, and pay pro rata annual fees based on net proceeds from California debtor accounts.

Grants the Commissioner authority to investigate applicants, conduct examinations of licensees, suspend or revoke licenses for violations, and issue orders for restitution and ancillary relief for violations of debt collection laws.

Establishes a seven-member Debt Collection Advisory Committee, including one consumer representative, to advise the commissioner on debt collection matters and proposes regulations.