Saturday, January 28, 2023
Subscriber Login
My Profile
SpotlightNews
  • Home
  • News
    • Election 2022
    • Business
      • Spotlight On Business
      • Spotlight on Finance
    • Crime and Police
    • Discover-Towns
      • Discover Coeymans Selkirk and Feura Bush
      • Discover Delmar
      • Discover Glenmont
      • Discover Guilderland
      • Discover Latham and Boght
      • Discover Loudonville
      • Discover Menands
      • Discover Slingerlands
      • Discover Village of Colonie
      • Discover Voorheesville and New Scotland
    • Fire Departments
    • Government
    • Milestones
    • Schools
    • Sports
    • Obituaries
  • The Spot 518
    • Galleries
    • Art
    • Food and Recipes
    • Health & Fitness
    • Music
    • Theatre
  • Hot Spots Calendar
    • Calendar Listings
    • Submit Your Event
  • Opinion
    • Blogs
    • Our Opinion
    • Point of View
    • Your Opinion
  • Family Now
    • Parenting News
    • Senior News
  • Towns
    • Albany County
    • Bethlehem
    • Colonie
    • Guilderland
    • New Scotland
  • Classifieds
    • Employment – Hire Power
    • Services In the Spotlight
    • Classified Listings
    • Advertiser Login
  • Subscribe
    • Subscriber login
    • Give the gift of news
    • Join us – subscribe today
    • Newsletter sign up
    • Renew Subscription
No Result
View All Result
  • Home
  • News
    • Election 2022
    • Business
      • Spotlight On Business
      • Spotlight on Finance
    • Crime and Police
    • Discover-Towns
      • Discover Coeymans Selkirk and Feura Bush
      • Discover Delmar
      • Discover Glenmont
      • Discover Guilderland
      • Discover Latham and Boght
      • Discover Loudonville
      • Discover Menands
      • Discover Slingerlands
      • Discover Village of Colonie
      • Discover Voorheesville and New Scotland
    • Fire Departments
    • Government
    • Milestones
    • Schools
    • Sports
    • Obituaries
  • The Spot 518
    • Galleries
    • Art
    • Food and Recipes
    • Health & Fitness
    • Music
    • Theatre
  • Hot Spots Calendar
    • Calendar Listings
    • Submit Your Event
  • Opinion
    • Blogs
    • Our Opinion
    • Point of View
    • Your Opinion
  • Family Now
    • Parenting News
    • Senior News
  • Towns
    • Albany County
    • Bethlehem
    • Colonie
    • Guilderland
    • New Scotland
  • Classifieds
    • Employment – Hire Power
    • Services In the Spotlight
    • Classified Listings
    • Advertiser Login
  • Subscribe
    • Subscriber login
    • Give the gift of news
    • Join us – subscribe today
    • Newsletter sign up
    • Renew Subscription
No Result
View All Result
Spotlight News
No Result
View All Result
Home News Business

Prop to protect against predatory debt collectors

Michael Hallisey by Michael Hallisey
January 7, 2022
in Business, News
Reading Time: 2 mins read

ALBANY — The New York state Department of Financial Services is proposing an amendment to a 2020 debt collection law that will extend consumer protection from predatory debt collection practices.

Acting Superintendent of Financial Services Adrienne A. Harris said the proposed amendment follows findings from a recent department investigation revealing abusive and deceptive debt collection, as well as data on consumer complaints to regulators.

“Predatory debt collection practices can deceive consumers and ultimately lead them further into economic hardship,” Harris said. “DFS’ proposed amendment requires clear communication on consumer debt obligations and ensures the consumer has the right information to dispute the validity of the debt. This amendment enhances consumer protections through increased transparency and prevention of harassment, helping put people on a path to financial well-being.”

This proposed amendment will enhance disclosures to consumers, reduce opportunities for debt collectors to mislead consumers about their debt obligations, and prevent harassment of consumers with excessive communication through stricter limits on phone calls than federal regulations impose.

The amendment is intended to help ensure consumers pay only debts they owe and pay them only once by mitigating opportunities for predatory debt collection through changes that address specific actors and specific harms. It will require debt collectors to provide key data about the alleged debt to the consumer and maintain records relating to the alleged debt so that the consumer can identify the debt or dispute the allegation.

The legislation is also intended to reduce opportunities for debt collectors to mislead consumers about the character of the debt and their obligations to pay through disclosure requirements, including mandated written disclosures. It also proposes to limit harassing phone calls and other excessive communication from debt collectors.

Tags: businessfinance
ShareTweetShareShare
Previous Post

Tale of One Thousand and One Nights

Next Post

Family and loss

Leave Comment

Stay Connected with Us

Recent News

Food: Gluten-free everything Bagels

January 27, 2023

Getting a handle on anxiety attacks

January 27, 2023

Chuck Garvey has returned to join moe

January 27, 2023

NYS job growth out paces nation’s for 2nd straight month

January 27, 2023

Hot Stories This Week

  • Trending
  • Comments
  • Latest
Second Assistant Chief Patrick Boccio demonstrates how tight of a squeeze it is to get trucks in and out of Stanford Heights Fire Department while Chairman of the Board of Commissioner Kevin Hulett watches.  
Jim Franco/Spotlight News

Multiple major fires and a power outage in Colonie over 24 hours

January 22, 2023

A ‘wicked good time’ coming to Xgates

September 2, 2022

North Colonie Welcomes Its New Assistant Superintendent Naté Turner-Hassell

January 25, 2023

St. Peter’s opens baby café in Albany

January 20, 2023

Food: Gluten-free everything Bagels

January 27, 2023

Getting a handle on anxiety attacks

January 27, 2023

Chuck Garvey has returned to join moe

January 27, 2023

NYS job growth out paces nation’s for 2nd straight month

January 27, 2023
Spotlight News

Spotlight News, The Spot 518 and Capital District Family Now are divisions of Community Media Group, LLC. Our local offices are located at 341 Delaware Ave, Delmar, NY 12054. You can contact us at 518.439.4949.

Browse

Follow Us

  • About
  • Advertise
  • Contact the Editor
  • Employment
  • Our Team
  • Privacy & Policy

© 2022 Community Media Group, LLC - 341 Delaware Ave. Delmar, NY 12054. 518.439.4949

No Result
View All Result
  • Home
  • Election 2022
  • News
    • Crime and Police
    • Fire Departments
    • Milestones
    • Real Estate and Housing
    • Schools
    • Sports
    • Spotlight On Business
    • Spotlight on Finance
  • The Spot 518
    • Galleries
    • Art
    • Theatre
    • Music
    • Food and Drink
    • Health & Fitness
  • Hot Spots Calendar
  • Newsletter Sign Up
  • Opinion
  • Classifieds
    • Advertiser Login
    • Service Directory
    • Hire Power – Employer Spotlight
  • Capital District Family Now
    • Parenting News
    • Senior News
  • Towns
    • Albany County
    • Bethlehem
    • Colonie
    • Guilderland
  • Log In
  • Subscribe

© 2022 Community Media Group, LLC - 341 Delaware Ave. Delmar, NY 12054. 518.439.4949