News & Analysis as of

Debt Collection Department of Financial Services

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

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In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

Ballard Spahr LLP

NYDFS brings first action to enforce state’s debt collection regulation

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The New York Department of Financial Services (DFS) announced on September 16 that it has filed a Statement of Charges against debt collector Forster & Garbus LLP (Forster) for alleged violations of the state’s Debt...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - September 2020

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Carlton Fields

Financial Services & Title Insurance Update: Week Ending March 1, 2019

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Financial Services Update - FDCPA: no liability for a debt collector that provides the name of the hospital, the account number, patient name, date of service, and amount of debt, but who fails to include the word "creditor"...more

Manatt, Phelps & Phillips, LLP

NY's DFS Reaches $3M Deal Involving Payday Lending Debts

Continuing its efforts against payday lenders, New York's Department of Financial Services (DFS) announced a consent decree with National Credit Adjustors (NCA) and Webcollex totaling $3 million....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

Ballard Spahr LLP

New York Issues Far-Reaching Debt Collection Regulations

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The New York Department of Financial Services (DFS) published its final debt collection regulations on December 3, 2014, following an extensive rulemaking period. The regulations impose requirements on third-party debt...more

Ballard Spahr LLP

Are the DFS’ latest debt collection rules a harbinger of things to come?

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In May, we wrote that the New York Department of Financial Services (“DFS”) would soon be issuing revised debt collection regulations for debt buyers and third party debt collectors. On July 16, the DFS released the revised...more

Ballard Spahr LLP

N.Y. Department of Financial Services Issues Revised Proposed Debt Collection Rules

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The New York Department of Financial Services (DFS) recently issued revised proposed debt collection regulations, which have important implications concerning charged-off and time-barred debt, for third-party debt collectors...more

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