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New Regulations Debt Collectors

Sheppard Mullin Richter & Hampton LLP

New York City Pushes Back Compliance Date of Amended Debt-Collection Rules

On July 28, The New York City Department of Consumer and Worker Protection (DCWP) announced that its amended debt-collection rule, scheduled to take effect on October 1, 2025, has been postponed, leaving the industry in limbo...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Recent Federal and State Debt Collection Developments

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Third-party debt collectors, first-party creditors, and debt buyers face an ever-evolving federal and state regulatory landscape as well as ongoing private litigation. We first look at the impact of the CFPB’s most recent...more

Ballard Spahr LLP

New York City Department of Consumer Affairs Releases Glossary and Translations of Commonly-Used Terms Just Before October 1, 2020...

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The enforcement grace period for the New York City Department of Consumer Affairs’ (“DCA”) new debt collection rules, ends today, October 1st....more

Ballard Spahr LLP

New York City Department of Consumer Affairs extends enforcement grace period on its new limited English proficiency debt...

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As discussed in our June 12th and August 7th posts, The New York City Department of Consumer Affairs (“DCA”) issued new debt collection rules related to limited English proficiency servicing, which took effect June 27, 2020....more

Morrison & Foerster LLP

Financial Services Report, Fall 2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

Carlton Fields

New Regulations Likely to Yield New Theories

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The plaintiffs’ bar, drawing inspiration from the Consumer Financial Protection Bureau (CFPB) regulations that took effect in early 2014, have begun to pursue new theories of liability under old causes of action. The new...more

K&L Gates LLP

“Start Spreading the News”: Recent New York Regulations Impact Debt Collection and Default Servicing

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Last month, the New York Department of Financial Services (“DFS”) finalized a regulation with a number of novel requirements affecting debt collection (including servicing delinquent loans) in New York. Previously, debt...more

McGuireWoods LLP

New York, Zombie Debt and the CFPB

McGuireWoods LLP on

Earlier this month, New York adopted enhanced consumer debt collection regulations proposed by the New York State Department of Financial Services (NYDFS). The regulations, among other things, require debt collectors to...more

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