ACA members call for city rules to be in line with state law pending in New York as well as federal laws and regulation.
12/20/2022 11:45 A.M.
1.5 minute read
The New York Department of Consumer and Worker Protection (DCWP) held a virtual public hearing Dec. 19 on its proposal to amend its rules relating to debt collectors.
The virtual hearing was open to the public and the industry was well represented by a large coalition of advocates from ACA International, the New York State Collectors Association (NYSCA), Receivables Management Association International and the New York State Creditors Bar.
Industry representatives echoed a consistent message requesting the DCWP to avoid conflicts with other state and federal laws, wait until the New York Department of Financial Services finalizes its pending debt collection rulemaking, and to seek uniformity with other state and federal laws to avoid confusing New York City consumers.
Anita Manghisi, IFCCE, an ACA board member, and David Peltan, president of the NYSCA, discussed the impact multiple levels of regulation has on the industry and the confusion it creates for consumers. They called for the DCWP to develop a uniform required disclosure for all New York consumers that is consistent with the requirements included with the Consumer Financial Protection Bureau’s Regulation F and the New York Consumer Credit Fairness Act.
The DCWP thanked all participants for their testimony before adjourning the hearing. The DCWP did not indicate a timeline for any revisions or next steps in their rulemaking process.
The proposed amendments to the rules would strengthen consumer disclosures and update requirements for reports licensed agencies must submit to the department, among other changes, ACA previously reported.
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