Monthly Archives: June 2020

Webinar to Examine New York City’s New Debt Collection Rules

June 23, 2020 — New York City’s new debt collection rules will be discussed during a Maurice Wutscher webinar now available on demand.

The New York City Department of Consumer and Worker Protection has adopted new rules requiring debt collectors to provide consumers with language preference disclosures and an affirmative obligation to request and record the consumer’s language preference. Debt collectors will not be required to translate a collection communication.

The rules become effective June 27 with a 60-day enforcement grace period beginning from the effective date of the rules.

During the webinar, Maurice Wutscher’s Donald Maurice and Eric Rosenkoetter will be joined by Marina Banje, Senior Compliance Counsel of Cavalry Portfolio Services, LLC, to address both the implementation of the disclosure and reporting requirements, along with how the agency might be perceiving the new rules’ ambiguous requirements.

To register, click here.

Maurice Wutscher’s Alan Hochheiser to Discuss Business Bankruptcies Under SBRA, CARES Act During June Webinar

June 10, 2020 — With business bankruptcy filings on the increase as a result of the COVID-19 pandemic, Maurice Wutscher bankruptcy attorney Alan Hochheiser will give insight into how to protect a client’s business and its creditors during a webinar on June 16 at 12 pm ET.

The webinar will be offered again on June 25 at 12 pm ET and on demand.

Mr. Hochheiser will give an overview of the Small Business Reorganization Act and discuss the impact of the CARES Act on businesses. He will also review steps to be taken if filing a small business bankruptcy, how to preserve assets while providing the largest return for creditors, preference and other avoidance actions, how to bring additional dollars into the estate, and defenses available for creditors and insiders.

“As businesses continue to experience difficulties as we are in uncharted territory due to the pandemic, every business, its advisors, lawyers, and accountants need to be aware of the bankruptcy process. No matter if you are working with the business itself or you are a creditor, an understanding of how to protect your client’s interest will be vital to that business’s ongoing success or failure,” Mr. Hochheiser explains.

Mr. Hochheiser is a leading practitioner in the areas of creditors’ rights and bankruptcy law. He advises and represents businesses, regional and national banks, credit unions, equipment lessors and other lenders, as well as secured and unsecured creditors.

The webinar is being presented by Advantage Continuing Education Seminars. Click here to register.

Maurice Wutscher’s Donald Maurice to Discuss OCC’s New ‘Valid-When-Made’ Rule During June 11 Webinar

June 9, 2020 — Maurice Wutscher attorney Donald Maurice will discuss the OCC’s new “valid-when-made” rule during a webinar on June 11 at 3 pm ET.

On June 2, the Office of the Comptroller of the Currency issued a final rule to clarify “that when a bank transfers a loan, the interest permissible before the transfer continues to be permissible after the transfer” and thus a loan is “valid-when-made.”

The rule ensures the terms of a loan remain valid after it is sold or transferred, a key component of the debt buying transaction, and resolves the legal uncertainty created by Madden v. Midland Funding, LLC.

The webinar will discuss the impact of the rule on collectors and debt buyers, including how it may lead to less liability in one area of their business.

The webinar is being presented by AccountsRecovery.net. Click here to register.

Maurice Wutscher’s Donald Maurice Speaks on Current State of Debt Collection During Podcast

June 2, 2020 — What is the state of debt collection during the COVID-19 emergency? Maurice Wutscher attorney Donald Maurice and other industry leaders weigh in during The State of Business podcast.

During the podcast, Mr. Maurice gives guidance on how collectors can responsibly continue their operations during the emergency.

The podcast is produced by Adam Wood of GCS Credit, a membership of international credit and debt collection professionals.

Mr. Maurice provides counsel to businesses and financial services companies, successfully litigating matters in state and federal courts in individual and class actions. He also counsels clients in data privacy and other regulatory compliance matters and provides advice and counsel to attorneys in matters of professional responsibility and attorney ethics.

The podcast is available here.