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Fair Debt Collection: In the News

Items 1 - 10 of 13  12Next

The Future of Wall Street Regulation Is in Andrew Cuomo's Hands (New Republic)

New York Governor Andrew Cuomo must soon appoint a replacement superintendent for the state Department of Financial Services (DFS), an obscure regulatory position that the current head, Benjamin Lawsky, elevated into a major national player over the past four years. Read More

Conflicting Comments Delay Court's Debt Default Plan (Sign in required) (New York Law Journal)

The courts need additional time to digest more than 300 pages of analysis and criticism of the rules submitted by government officials, bar groups, the consumer finance industry and law firms specializing in debt collection, said office of Court Administration spokesman David Bookstaver. Read More

How Credit-Card Debt Can Help the Poor (The New York Times)

Last October, Jeffrey Shavers, a hotel maintenance worker in Chicago, took out an extremely unusual $300 loan. Read More

Courts clogged by debt cases, 'rubber stamp' rulings, advocacy group says (

It's a growing problem, say consumer advocates around the country: courts that seem to behave like assembly lines, clogged with debt cases that sometimes consume an entire day’s legal action. The New Economy Project report is among the first to quantify the issue. Read More

Gouging the Poor in New York (The New York Times)

Gov. Andrew Cuomo of New York has warned debt collectors that they could face legal sanctions if they try to collect predatory loans that violate the state’s usury law, which prohibits loans with interest rates above 25 percent. The governor needs to take an equally forceful stand against pending bills that would encourage predatory lending by allowing check-cashing stores to enter the lending business and exempting them from the usury law. Read More

Governor Cuomo Announces Department of Financial Services Notifies Debt Collectors Not to Seek Collection on Illegal Payday Loans (NYS Governor Andrew Cuomo)

Governor Andrew M. Cuomo today announced that the New York State Department of Financial Services has sent letters to all debt collectors in New York stating that it is illegal to attempt to collect a debt on a payday loan since such loans are illegal in New York. Read More

New Rules Kick in for Social Security and SSI on May 1 (National Consumer Law Center)

Beginning May 1, 2011, elders, veterans, and the disabled can rest a bit easier as a new federal rule kicks in that will limit creditors’ ability to seize funds from Social Security, Social Supplemental Income (SSI), VA, and other federal benefits held in bank accounts in favor of direct deposit or prepaid cards Read More

Crackdown Sought on Debt Scams and Foreclosure Abuse (Legislative Gazette)

New Yorkers are needlessly losing money and families are being devastated, according to New Yorkers for Responsible Lending, a coalition of representatives from more than 150 groups fighting what they consider abusive debt collection and unfair home foreclosure practices. Read More

New Yorkers for Responsible Lending Announce 2010 Reform Platform

New Yorkers for Responsible Lending today rallied in Albany and unveiled the coalition’s policy priorities for 2010. Advocates called for the immediate passage of state legislation to curb abusive debt collection practices and for the strengthening of New York’s foreclosure prevention laws. Read More

Consumer Advocates Tout Financial Protection Agency (WXXI)

Consumer advocates across New York State are lining up behind a bill now making its way through the United States Senate, to enhance consumer protection in the financial services industry. Read More