State Collection Agency Licensing Board Meeting Minutes January 2026 - Financial Regulation

Topics

1. Call to Order

   Mr. Salazar, Commissioner of Financial Regulation and Board Chairman called the meeting to order at 2:02 p.m. and a quorum was established.

2. Acknowledgements

   Mr. Salazar stated that the notice of the January 13, 2026, meeting was: (i) posted on the Dept. of Labor/Board website on December 19, 2025; and (ii) published in the Maryland Register on December 11, 2025. Additionally, Mr. Salazar stated the agenda for the January 13, 2026, meeting was posted on the Dept. of Labor/Board website on December 23, 2025.

3. Approval of Minutes

   Mr. Salazar noted the minutes for the December 9, 2025, Board meeting had previously been circulated for review and asked for questions or comments. On. Ms. Rezvani's motion, with a second from Mr. Kennedy, the Board unanimously approved the December 9, 2025, minutes.

4. Recognition of Public Members and Comments

   There was one member of the public present, Kurtis Hutsell.

5. Licensing Unit Report

   Ms. Arlene Williams

   Ms. Williams advised the Board that the Licensing Unit had reviewed thirteen (13) pending applications with all the supporting materials and determined that these applicants met the requirements for licensure. Accordingly, Ms. Williams recommended that the Board grant a collection agency license to the following entities:

   1. Harley Davidson Credit Corp (NMLS ID 206168)
   2. Hoff Solutions Inc. (NMLS ID 2780434)
   3. Loft Living LLC (NMLS ID 2703275)
   4. Flagship Financial Group LLC (NMLS ID 2779548)
   5. Covision CTX LLC (NMLS ID 2699335)
   6. HomePro Finance Company LLC (NMLS ID 2686974)
   7. Recuvery, LLC (NMLS ID 2634663)
   8. Bolt Legal LLC (NMLS ID 1658629)
   9. VLB Inc. t/a Victory Management Inc. (NMLS ID 1678599)
   10. Friedman, Framme & Thrush P.A. (NMLS ID 1681411)
   11. Cohn, Goldberg & Deutsch, LLC (NMLS ID 1655348)
   12. Mid Atlantic Government Recovery Agency Corporation (NMLS ID 2795051)
   13. Concora Credit Inc. (NMLS ID 1549514)

   On Mr. Kennedy's motion, with a second from Ms. Rezvani, the Board voted unanimously to issue a license to the thirteen recommended applicants.

   There were six (6) collection agency licensees that surrendered their license in the past 30 days.

   1. Alliance Group & Associates LLC (NMLS ID 1671534)
   2. World Credit Fund III LLC (NMLS ID 1374682)
   3. CashNet CSO of Maryland LLC (NMLS ID 1670844)
   4. Deserve Inc. (NMLS ID 1981795)
   5. RGS Financial LLC (NMLS ID 931231)
   6. Axis Financial Services Inc. (NMLS ID 939463)
   
   

   Ms. Williams reported that there were ten (10) changes in control approvals in the past 30 days.

   1. Madison Management Services LLC (NMLS ID 185724)
   2. National Creditors Connection Inc. (NMLS ID 985520)
   3. Universal Account Servicing LLC (NMLS ID 1060516)
   4. Silverman Theologou LLP (NMLS ID 1678919)
   5. Zip Co US Inc. (NMLS ID 1963958)
   6. CHECKredit of Kentucky LLC (NMLS ID 1134223)
   7. RockLoans Marketplace LLC (NMLS ID 1399530)
   8. Brown & Joseph LLC (NMLS ID 1716869)
   9. SUSA Holdings LLC (NMLS ID 2445282)
   10. TriVerity Inc. (NMLS ID 997459)
   
   

   TOTAL COLLECTION AGENCY LICENSES IN THE SYSTEM as of 1/6/2026: 969

   Collection Agency Licensee Renewal Update as of January 5, 2026

   • Number of renewable licenses - 1,074
   • Number of renewals requested - 976
   • Number of renewals approved - 954

6. Consumer Services Unit Report

   Ms. Stacy Lewis

   Ms. Lewis advised the Board that the Consumer Services Unit circulated its current report for Fiscal Year 2026 showing that as of 12/31/2025, 72 complaints have been received, 50 are open and 22 were closed. Mr. Salazar also mentioned that the OFR's Consumer Services Unit (CSU) has been rebranded as the Consumer Response Unit (CRU) and will now be reporting to the Assistant Commissioner of Enforcement, Ms. Dana Allen.

7. Enforcement Unit Report

   Ms. Dana Allen

   Ms. Allen advised the Board that there are nine (9) current/on-going collection agency cases in a pre-charge status.

8. Legislative Update

   Ms. Amy Hennen

   Ms. Hennen advised the Board that the 2026 Legislative Session begins tomorrow, January 14th, 2026. She also reminded the Board that if any member plans on testifying or potentially lobbying, please let her know so we can notify the Department of Labor if necessary. Mr. Salazar also thanked personally thanked Board Members Ms. Tracy Rezvani and Mr. Shawn Kennedy for attending the 2nd MD Licensing Workgroup and sharing their roles and perspectives of the SCALB.

9. Federal Activities

   1. Medical Debt Bill Implementation

      Ken Krach

      Mr. Krach presented a detailed summary to the Board of the Health Services Cost Review Commission's new regulations, which directly impacts collection agency companies. The regulations went into effect on December 11, 2025.

   2. CFPB

      Cliff Charland

      Mr. Charland advised the Board that the CFPB appears to be operating under normal conditions at this time, despite their recent budget and funding concerns. There are no other new updates to report currently.

   3. FTC

      There were no new updates to report.

10. NACARA Update

    Ms. Stacy Lewis

    Ms. Lewis advised the Board that the NACARA will have their next quarterly meeting in March and anticipates having more updates after that time.

11. Additional Comments

    There were no additional comments.

12. Adjournment

    Mr. Salazar informed the Board that the next regular meeting is scheduled to be held on Tuesday, February 10, 2026, virtually, via video conference call. On an unanimously approved motion, the meeting adjourned at 2:28 p.m.