News & Analysis as of

Fair Debt Collection Practices Act NYDFS

Goodwin

Financial Services Weekly News - March 2017

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Editor's Note - In This Issue. The New York Department of Financial Services issued its highly anticipated cybersecurity regulation in its final form, the Securities and Exchange Commission (SEC) issued updated guidance...more

Morrison & Foerster LLP

Financial Services Report, Winter 2016

EDITOR’S NOTE - Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,...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

Ballard Spahr LLP

New York DFS Brings Enforcement Action Against Two Debt Buyers for Collecting on Payday Loans

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The New York Department of Financial Services (DFS) announced last week that it had entered into consent judgments with Webcollex LLC d/b/a CKS Financial (CKS) and National Credit Adjusters (NCA) for allegedly violating 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

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

Ballard Spahr LLP

NY Amends Debt Collection Regulations, Issues More Guidance

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The New York Department of Financial Services (DFS) has amended several provisions of its Third-Party Debt Collector and Debt Buyer Regulations and issued additional guidance in the form of new frequently asked questions...more

Ballard Spahr LLP

N.Y. DFS Provides Insight on Key Provisions of Its Debt Collection Regulations

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At a recent DBA International Symposium on New York State’s debt collection rules and regulations, New York Department of Financial Services (DFS) Executive Deputy Superintendent Joy Feigenbaum clarified certain provisions in...more

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