Regulatory Alerts2020-06-25
Billing Service Companies and Application of the Idaho Collection Agency Act
The Idaho Department of Finance issued Guidance Statement 2020-06-CFB to clarify that billing service companies operating strictly under the criteria of the Davis v. Professional Business Services, Inc. case are exempt from the Idaho Collection Agency Act. The guidance outlines five specific operational factors, such as using the creditor's name for mailings and depositing funds directly into the creditor's accounts, that distinguish these exempt entities from regulated collection agencies. Any entity collecting debts in Idaho that does not meet these strict Davis-case criteria is considered a collection agency subject to the Act and the Department's jurisdiction.
Share