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State Collection Agency Licensing Board Open Session Meeting Minutes May 2026 - Financial Regulation

; – (virtual)

In Attendance

Members

Tony Salazar (Commissioner and Board Chairman); Sandra Holland; Tracy Rezvani

Staff and Counsel (Office of Financial Regulation)

Kat Hyland, Chair Alternate (Deputy Commissioner of Financial Services & Consumer Protection and Board Chair Alternate); Ayanna Daugherty (Senior Analyst and Board Administrator); Amy Hennen (Assistant Commissioner for Policy and Engagement); Clifford Charland (Assistant Commissioner of Financial Services Licensing and Supervision); Dana Allen (Assistant Commissioner of Enforcement); Arlene Williams (Director of Licensing); Monyette Johnson (Assistant Director of Licensing); Stacy Lewis (Financial Examiner); Meredith Merchant (Operations Director); Emily Hanson (Advice Counsel)

Public Attendees

Susan Wilson

Agenda

Call to Order

Mr. Tony Salazar, Commissioner and Chair called the meeting to order at 2:03 p.m. and a quorum was established.

Acknowledgements

Mr. Salazar stated that the notice of the May 12, 2026 meeting was: (i) posted on the Dept. of Labor/Board website on April 28, 2026; and (ii) published in the Maryland Register on April 17, 2026. Additionally, Ms. Hyland stated the agenda for the May 12, 2026, meeting was posted on the Dept. of Labor/Board website on May 1, 2026.

Approval of Minutes

Mr. Salazar noted the open and closed session minutes for the May 12, 2026 Board meeting had previously been circulated for review and asked for questions or comments. On Ms. Holland’s motion, with a second from Ms. Rezvani, the Board unanimously approved the May 12, 2026 open session minutes. On Ms. Holland’s motion, with a second from Ms. Rezvani, the Board unanimously approved the May 12, 2026 closed session minutes.

Recognition of Public Members and Comments

Susan Wilson of Asset Recovery LLC dba The Judgment Group stated she’s been in business for 20 years and has a matter currently pending with OFR. She also said she appreciates being able to attend our SCALB meetings.

Licensing Unit Report

Ms. Monyette Johnson provided the Licensing Unit Report.

Pending Applications:

Ms. Johnson advised the Board that the Licensing Unit had reviewed ten (10) pending applications with all the supporting materials and determined that these applicants met the requirements for licensure. Accordingly, Ms. Johnson recommended that the Board grant a collection agency license to the following entities:

  1. Grady Management, Inc. (NMLS 2759350)
  2. Cardless Servicing LLC (NMLS 2803838)
  3. Standard Acceptance Inc. (NMLS 2804202)
  4. Dunlop Trust Inc. (NMLS 2810267)
  5. Patriot Pond LLC (NMLS 2435495)
  6. East Atlantic Collection Services LLC (NMLS 1672042)
  7. Peak Management LLC (NMLS 1692020)
  8. Account Resolution Team Inc. (NMLS 2780400)
  9. Property Management People Inc. (NMLS 1674798)
  10. Riparian Management LLC (NMLS 2821499)

On Ms. Rezvani’s motion, with a second from Ms. Holland, the Board voted unanimously to issue a license to the ten recommended applicants.

Surrender Licenses:

There were three (3) collection agency licensees who surrendered their license in the past 30 days:

  1. Flagship Credit Acceptance LLC (NMLS 73165)
  2. Wakefield & Associates LLC (NMLS 1048033)
  3. Global Financial Inc. (NMLS 1673209)

Changes in Control:

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

  1. Monterey Financial Services LLC (NMLS 253155)
  2. Hollis Cobb Associates, LLC (NMLS 1224682)
  3. Conservice, LLC (NMLS 2460289)
  4. Paramount Capital Group, LLC (NMLS 1114719)
  5. Freedom Financial Asset Management, LLC (NMLS 227977)
  6. Meridian Servicing, LLC (NMLS 2298942)
  7. Financial Assistance, Inc (NMLS 950721)
  8. Southwood Financial LLC (NMLS 2490252)

The total number of Collection Agency licenses as of May 5, 2026, is 1020.

Consumer Response Unit Report

Ms. Stacy Lewis advised the Board that the Consumer Services Unit circulated its current report for Fiscal Year 2026 showing that as of 4/30/2026, 143 complaints have been received, 92 are open and 51 were closed.

Enforcement Unit Report

Ms. Dana Allen advised the Board that there are fourteen (14) current/on-going collection agency cases in a pre-charge status.

Legislative Update

Ms. Amy Hennen’s advised the Board that the 2026 Legislative Session has officially ended. OFR is actively implementing and monitoring the bills that passed. She also stated that if anyone has any questions about legislation, please contact her.

Federal Activities

Medical Debt Bill Implementation

There were no new updates to report.

CFPB

There were no new updates to report.

FTC

There were no new updates to report.

NACARA Update

Ms. Stacy Lewis reminded the Board that this year’s NACARA conference will be held virtually on October 20th-22nd, 2026.

MD Licensing Workgroup Update

Mr. Salazar provided the Board with an update on the MD Licensing Workgroup. The Workgroup met last Friday on May 8, 2026 and is continuing to meet to discuss and draft recommendations, including consideration to amend some of the SCALB policies. He also mentioned that Board members Tracy Rezvani and Shawn Kennedy testified previously at a Workgroup meeting about SCALB.

The next Workgroup meeting will be held on May 29, 2026 and the Workgroup will end in late June.

Additional Comments

There were no additional comments.

Adjournment

Mr. Salazar informed the Board that the next regular meeting is scheduled to be held on Tuesday, June 9, 2026, virtually, via video conference call. On an unanimously approved motion, the meeting adjourned at 2:17 p.m.