Consumer Collection Agency Licensing
Please reference the relevant Connecticut Statutes (§§ 36a-800 to 36a-812, inclusive) as amended by Sections 33 to 37, inclusive, of Public Act 15-235, and Regulations before applying for a license.
Warning To Licensees Who Collect Debt From CT Consumers:
It is illegal to collect on consumer loans which violate Connecticut’s small loan regulatory scheme or to receive payment processing fees not contemplated by a consumer’s underlying debt contract - see attached memo. See also Section 4 of Public Act 15-53, prohibiting any person from directly or indirectly assisting or aiding and abetting any person in conduct prohibited by Sections 36a-555 to 36a-573, inclusive.
Notice to all Consumer Collection Agencies:
Memorandum from the Banking Commissioner regarding his “no action” position regarding the student loan servicer requirement for licensed consumer collection agencies. (pdf, 605 KB)
If you wish to apply for a consumer collection agency license you should begin by first reviewing Connecticut’s Jurisdiction-Specific Requirements along with Connecticut's consumer collection licensing statutes, which provides the current licensing procedures and requirements applicable to consumer collection agencies.
All new applications must be submitted to the Department via the Nationwide Multistate Licensing and Registry.
If your company already has a completed record in the National Mortgage Licensing System, then applying for a license in Connecticut merely involves filing your company's record (Form MU1), control person records (Form MU2), and relevant branch records (Form MU3) with Connecticut through the NMLS and mailing in the required jurisdiction-specific requirements to the Department.
Go to the Getting Started page of the NMLS website and follow the steps outlined.
Any questions relating to the NMLS should be directed to the NMLS Call Center at (855) 665-7123.
Connecticut Department of Banking
Consumer Credit Division
260 Constitution Plaza
Hartford, CT 06103-1800
Telephone: (860) 240-8200 or toll-free 800-831-7225
Fax: (860) 240-8215
WHO TO CONTACT - Contact Anne Cappelli by phone at 860-240-8206 or send your questions
via e-mail to Anne.Cappelli@ct.gov for additional assistance.
Content Last Modified on 7/14/2016 9:08:05 AM