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Debt Collection Penalties Consumer Lenders

Hinch Newman LLP

New York Attorney General Advances Consumer Protection Legislation Intended to Bolster GBL Section 349

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In March 2025, Office of the Attorney General for the State of New York introduced the Fostering Affordability and Integrity Through Reasonable (“FAIR”) Business Practices Act in the State Senate and State Assembly. The...more

Goodwin

NY DFS Obtains $3 Million in Restitution for Illegal Payday Lending

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On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a debt buyer for purchasing and collecting on allegedly illegal payday loans made to New York consumers, in violation of the...more

Goodwin

NY DFS Obtains $119K in Restitution for Illegal Payday Lending

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On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a Virginia debt buyer for collecting on illegal payday loans from New York consumers, in violation of the Fair Debt...more

Goodwin

The CFPB Targets Lender’s Credit Card Division With More Than $200MM In Penalties

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The Consumer Financial Protection Bureau (CFPB) has set its sights on debt collection practices again. In April, we wrote about the CFPB’s $63 million settlement with a mortgage servicer, Green Tree Mortgage, in part for...more

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