| Committee of Jurisdiction: | Banking, Commerce and Insurance |
| Occupation Regulated: | Collection Agencies |
| Occupational Board: | Nebrasa Collection Agency Licensing Board |
| Contact: | David Wilson |
| Purpose: | Debt collection provides a valuable role in the business cycle. However, debt collection can place the debtors at risk of unfair, deceptive, or abusive acts or practices. Additionally, creditors entrust their accounts to the debt collector to recover and remit it. The Licensing Process ensures that collection agencies are competent to engage in the business, capable to comply with state and federal regulations protecting debtors and can be held to account if they fail to remit the funds due. |
| Regulated Professionals: | 415 |
| Year Created: | 1963 |
| Year Active: | 1963 |
| Sunset Date: | None |
| Statutory Authorization: | Neb. Rev. Stat. § 45-603 |
| Parent Agency: | Secretary of State |
| Number of Members: | 5 |
| Who Appoints: | Secretary of State is the chair. Governor appoints four 4 remaining members. |
| Legislative Approval: | No |
| Qualifications of Members: | Neb. Rev. Stat. § 45-603(1). Three must licensees actively engaged in the collection business in this state, one of whom shall reside in each of the state's three congressional districts. The remaining member shall be appointed at large as a representative of the public and is not actively engaged in the collection business in this state. |
| Per Diem: | No |
| Expense Reimbursement: | Yes |
| Term Length: | 4 years |
| Terms Rotate or Expire at Once: | Terms Rotate |
| Required FY 2023-2022: | 4 |
| Held FY 2023-2022: | 4 |
| Required FY 2022-2021: | 4 |
| Held FY 2022-2021: | 4 |
| Required FY 2021-2020: | 4 |
| Held FY 2021-2020: | 4 |
| Required FY 2020-2019: | 4 |
| Held FY 2020-2019: | 4 |
| Required FY 2019-2018: | 4 |
| Held FY 2019-2018: | 4 |
| Support Staff: | 2 |
| Shared or Separate: | Shared |
| FY 2023-2022 Budget: | 96012 |
| FY 2022-2021 Budget: | 87418 |
| FY 2021-2020 Budget: | 128523 |
| FY 2020-2019 Budget: | 97156 |
| FY 2019-2018 Budget: | 111299 |
| Other Funding Sources: | None |
| Spending Authority: | 45-603 |
| Government Certificates Issued: | 178 |
| Issued Certificate Descriptions: | License to be act as Collection Agency (as defined in Neb. Rev. Stat. § 45-601). |
| Government Certificates Revoked: | 0 |
| Revoked Certificate Descriptions: | n/a |
| Government Certificates Denied: | 0 |
| Denied Certificate Descriptions: | n/a |
| Government Certificates Penalties Against: | 0 |
| Penalty Certificate Descriptions: | n/a |
| Explanation of Effectiveness: | https://nebraskalegislature.gov/pdf/SurveyDocs/explanation1698087552.pdf |
| Potential Harm | Collection Agencies are entrusted with money that is owed to their clients. Unscrupulous operations are able to take the money rightfully owed to the clients, which would cause great harm and loss to those businesses. Further, Collection Agencies are in contact with debtors, who are often times in financially difficult situations. Most Collection Agencies are aware of the challenges facing the debtors and work with them to ensure payments on debts they owe. Others will use intimidation, threats, and other illegal activities to attempt to collect debts or will attempt to collect debts that have been repaid. The Board ensures that only those businesses that are financially responsible and have the capability to comply with the state and federal regulations for debt collectors, are licensed in Nebraska. Nebraska businesses are protected from bad actors that would abscond with the funds the businesses are owed. Nebraska consumers are protected against bad-acting collection agencies that do not comply with consumer protection laws. |
| Regulation Comparison: | https://nebraskalegislature.gov/pdf/SurveyDocs/comparison1698087552.pdf |
| Subject to Regulations of Act(LB407): | No |
| Survey Submitted: | October 23, 2023 01:59 PM |