New Rules in New York: What You Need To Know - MP3 - 1/15
New Rules in New York: What You Need To Know To Do BusinessRecorded: January 27, 2015
If you collect debt in the Empire State, this teleseminar is for you.
The state of New York recently enacted new debt collection regulations that will begin going into effective on March 3, 2015. The New York State Department of Financial Services (NYSDFS) issued a final rule in December regulating debt collection practices in the state of New York. The rules go into effect March 3. Listen to this teleseminar and be prepared.
We will examine the new regulation and explore how to prepare compliance plans to meet the new requirements, which will include changes to initial disclosures, "substantiation" of debts, written confirmation of any agreed-upon debt repayment schedules or settlement agreements, and a framework for e-mail communications between debt collectors and consumers.
This seminar will provide listeners:
- Background on how the regulations came about and ACA's involvement.
- Description and analysis of the specific requirements of the new regulations, what this means for debt collection communications, and practical considerations.
- Review of specific areas including:
- Who the regulations cover
- Mandatory disclosures
- Requirements for substantiation of debts
- Debt payment procedures
- Communication through e-mail.
- Questions and answers.
Andrew Madden, Director, State Government Affairs, ACA International, Washington, D.C.
Kim Rath, Director of Compliance, ACA International, Minneapolis, MN
Robert Föehl, Vice President and General Counsel, ACA International, Minneapolis, MN