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Debt Collection Lack of Substantiation

Goodwin

New York Department of Financial Services Files Charges Against Debt Collector for Failing to Substantiate Debts

Goodwin on

On September 16, 2020, the New York Department of Financial Services (“DFS”) announced it filed a statement of charges against a debt collector over the debt collector’s alleged failure to comply with New York State’s Debt...more

Goodwin

CFPB Considering Debt Collection Reform Proposals

Goodwin on

On July 28, the Consumer Financial Protection Bureau (the CFPB) released a summary of proposals it is considering to reform debt collection practices. At the same time, it released a Study of Third Party Debt Collection...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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