Caine & Weiner Part of Elite Group of CLLA (The Commercial Law League of America) Certified Collection Agencies
Woodland Hills, CA – The Commercial Law League of America (CLLA) and the International Association of Commercial Collectors, Inc. (IACC), recently announced the release of the updated CLLA agency certification logo. The logo represents the power and prestige of the alliance between the two organizations. The logo update was inspired by the recently improved certification program and the affiliation and endorsement by IACC.
Caine & Weiner understands the critical importance of this certification and adhering to its standards to protect and safeguard clients. The certification has a longstanding history and is the most recognized commercial agency certification in the industry. Caine & Weiner was part of the original group of thirteen agencies that were initially certified over 30 years ago and is one that remains committed to the integrity, enhancement and viability of the program.
“As we celebrate our 85th year of continuous service in the credit and collections industry, we are proud to be a part of this elite group of certified agencies, who represent the platinum standard. We believe the new logo symbolizes the importance of the certification, honors its history and how its members provide only the highest level of professional services within the commercial collection industry,” said Greg A. Cohen, Caine & Weiner, President & CEO.
The original certification dates back to 1937 when the CLLA adopted the Statement of Principles Applicable to Collection Agencies which had been set forth and adopted by the American Bar Association, the New York State Bar Association and the New York State Association of Collection Agencies. In 1971 thirteen agencies, Caine & Weiner being one of them, expressed their interest in forming a section and applying for a Certificate of Compliance. In 1972 the Collection Agency Section was permanently established and the first Certificate of Compliance was created. That first Certificate of Compliance had only four major requirements for a collection agency.
The agency had to:
- be engaged as a commercial collection agency for at least three years;
- have an officer or manager who is a member of the CLLA;
- maintain a separate bank account for all collected funds; and
- submit a bond in the amount of $10,000. Those modest requirements were expanded over the years as the industry changed and the needs to protect the credit grantor became more important.
Since then, the certification requirements have become much more rigorous, with the main focus being the audit of the trust fund accounts. CLLA’s program also requires commercial collection agencies to be bonded that reflect the requirements of the modern era, financially secure, able to pass an on-site audit, and in compliance with all federal regulations. Certified agencies must recertify each year and submit to reviews regarding adherence and compliance to the standards of the program.
Today, the full Commercial Collection Agency Certification Program Standards and Certification is granted by the CLLA and the certification program is run by a committee of CLLA attorneys and staff, with the audits and site visits conducted by an independent third-party agent of the CLLA. The CLLA certification has been continuous since its inception and is known as the platinum standard in the industry which sets members apart from the rest of the pack.
For more information about the Certification program, please visit CLLA online at www.clla.org/certification
About the CLLA
Since 1895, the not-for-profit Commercial Law League of America has connected experienced attorneys with credit grantors, lending institutions and other commercial credit, bankruptcy and general finance industry members through networking, education, legislative advocacy and specialized legal services. The association’s members include attorneys, collection agencies, judges, accountants, trustees, turnaround managers and other credit and finance experts. For more information on the CLLA, please visit www.CLLA.org.
About the IACC
Since 1970, the International Association of Commercial Collectors, Inc. (IACC) is the oldest and largest U.S. trade association for commercial collection professionals which includes collection agencies, attorneys, law lists and affiliates. Headquartered in Minneapolis, IACC serves members throughout the United States and in 25 other countries. Members of IACC recover millions of dollars annually for their clients and provide valuable assistance to credit departments in controlling mounting debt. To learn more, visit the IACC website at www.commercialcollector.com.
About the Caine & Weiner
Caine & Weiner (www.caine-weiner.com) is celebrating its 85th year of continuous service as a global provider of highly effective and results oriented 1st and 3rd party commercial and consumer accounts receivable management services and innovative outsourcing solutions. To serve the domestic market, the Los Angeles-based enterprise maintains a network of five full-service call centers strategically located throughout the U.S. Through their active partnership with Global Credit Solutions (GCS), Caine & Weiner has established an international presence in over 90 countries. Caine & Weiner has been in operation since their beginning in 1930 and was a founding member of the former Commercial Collection Agency Association (CCAA), certified by the Commercial Law League of America (CLLA). Caine & Weiner was also a certified member of the International Association of Commercial Collectors (IACC).