NYC Reaffirms Plans to Amend Proposed Debt Collection Rules Based on Industry Feedback
The amendments may consider state and federal requirements for debt collectors and are tentatively expected to be released this summer.
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The amendments may consider state and federal requirements for debt collectors and are tentatively expected to be released this summer.
The revised proposal would serve as a permanent rule for debt collectors and debt buyers in the state if approved and includes proposed amendments on consumer communications and disclosures.
Americans are currently seeing a period of potentially significant change as financial technology (FinTech) companies seek to harness advances in communications, data processing, and cryptography to compete with traditional providers across a host of services. FinTech is changing how financial services are provided in a host of ways that make it possible for new competitors to compete with incumbents.1 Some of the most powerful are removing geographic limitations on where a company can offer its services, and lowering barriers to entry.
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