California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 11.3 - Debt Collection Licensing Act
Article 2 - Application for Licensure and Related Forms
Section 1850.10 - Information Regarding Individuals Who Are Not Residents of the United States

Universal Citation: 10 CA Code of Regs 1850.10

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) In addition to other background information required in the application, applicants must engage a search firm to perform an investigative background report of each individual required to be fingerprinted under the Debt Collection Licensing Act and Sections 1850.7 and 1850.9 of these rules who does not currently reside in the United States or has not resided in the United States for at least ten (10) years. This investigative background report shall be required in addition to fingerprinting.

(1) A copy of the investigative background report shall be filed with NMLS for transmission to the Commissioner.

(2) The search firm must be able to demonstrate that it has sufficient resources and is properly licensed to conduct the background search.

(3) The search firm shall not be affiliated with or related to the applicant or the individual who is the subject of the search.

(4) The report must be in English or if the report is in another language, the report must be translated to English and include a translator's certificate as provided in Section 1850.6.1 of these rules.

(5) The cost of the report shall be paid by the applicant or individual.

(b) The report shall contain the following, at a minimum:

(1) A comprehensive credit report and/or history, including the actual credit report if available, as well as a summary;

(2) Civil court and bankruptcy court records concerning the individual for the past ten (10) years. The search for these records shall include a search of the court data in the country(s), state(s), and town(s) where the individual resided or worked;

(3) Criminal records of the individual, including felonies, misdemeanors, and violations (excluding traffic violations). The search for these records shall include a search of court data in the country(s), state(s), and town(s) where the individual resided or worked;

(4) Employment history during the last ten (10) years;

(5) Media records during the last ten (10) years referencing the individual. Media records include national and local publications, wire services, and business publications; and

(6) Regulatory history, particularly in connection with debt collection activities.

(1) Identifies the scope of the search;

(2) Indicates the independence of the search firm from the applicant and the individual who is the subject of the search; and

(3) Identifies an individual from the search firm and the individual's contact information for the Commissioner to contact with questions regarding the report.

(d) If an individual has had a report containing at least the information listed in subsection (b) of this section prepared for another licensing agency within 12 months of the filing of the application, the applicant or individual may request permission from that licensing agency or the search firm to file a copy of that report with the Commissioner through NMLS. If the applicant or individual elects to file a prior report as authorized in this subsection, the applicant or individual shall also attach to the report a statement of no material change to the information in the report with the Commissioner through NMLS. The statement shall include the name of the individual and the license applicant and be dated and signed by the individual or applicant.

Note: Authority cited: Section 100003, Financial Code. Reference: Section 100009, Financial Code: and 8 U.S.C. Sections 1621, 1641 and 1642.

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