NYDFS Brings 1st Case Under State's Debt Collection Rules

Law360 (September 16, 2020, 8:41 PM EDT) -- New York's financial services regulator said Wednesday that it has brought its first enforcement action under the state's rules for debt collectors, accusing a Long Island debt collection law firm of failing to provide consumers with certain required documentation about their debts when asked.

In a statement of charges outlining its case, the New York State Department of Financial Services alleges that Forster & Garbus LLP has repeatedly violated requirements in the state's 2015 debt collection regulation for collectors to promptly and thoroughly substantiate consumers' debts upon request, such as when there's a dispute about whether a charged-off debt is actually...

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