News & Analysis as of

Debt Collectors Department of Financial Services

Manatt, Phelps & Phillips, LLP

Payday Debt Collector, Servicer Must Forgive $12M

Shortly before the Consumer Financial Protection Bureau (CFPB) issued its payday loan rule, the New York Department of Financial Services (DFS) announced a consent order with a payday loan servicer and debt collector totaling...more

K&L Gates LLP

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

K&L Gates LLP on

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

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