Bill Title: Amends the Regulatory Sunset Act to remove the Collection Agency Act from the provisions of the Act. Amends the Financial Institutions Code. Sets forth the powers and duties of the Division of Financial Institutions of the Department of Financial and Professional Regulation. Amends the Collection Agency Act. Provides that no action may be filed against any licensee for violation of the terms of the Act or its rules unless the action is commenced within 5 years after the discovery of the alleged violation (rather than the occurrence of the alleged violation). Makes changes to provisions concerning definitions; unlicensed practice, violations, and civil penalties; application for original licensure; qualifications for licensure; fees; disciplinary action; communication in connection with debt collection; powers and duties of the Department; investigation, notice, and hearing; administrative review and venue; and expiration, renewal, and restoration of licenses. Repeals provisions concerning: informal conferences; the Collection Agency Licensing and Disciplinary Board; records of hearings; findings and recommendations; rehearings; appointment of hearing officers; orders or certified copies; restoration of licenses from discipline; and surrender of licenses. Makes other changes. Effective January 1, 2023.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2022-05-27 - Public Act . . . . . . . . . 102-0975 [HB5220 Detail]

Text: Latest bill text (Chaptered) [HTML]

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