The DCA met with industry stakeholders to hear concerns about the impact of the rule on businesses.
Earlier this week, the New York City Department of Consumer Affairs (DCA) held a stakeholders meeting with ACA International, the New York State Collectors Association, Receivables Management Association International, National Creditors Bar Association and the New York State Creditors Bar Association to discuss the department’s recently published Preferred Language Rule which is set to go into effect on June 27.
During the discussion, which centered around concerns the industry has with the rule, the need for additional clarification and safe harbors, the rule’s impact on large and small business and the need to delay the implementation date, the DCA agreed to take these requests including a delayed implementation date under consideration and to provide additional clarification.
ACA International has come to understand that the DCA will be announcing a 60-day enforcement grace period beginning from the effective date of the rule (June 27). The DCA will also be working on a FAQ document that will be made publicly available on the DCA website to address industry concerns provide clarification and provide further guidance.
For more information on how the ACA Licensing staff can assist with your licensing needs, please contact us at [email protected] or call (952) 926-6547.