Feb. 15, 2023 — Maurice Wutscher attorney Donald Maurice has published an article, “The two New Yorks and their proposed debt collection rules,” on Thomson Reuters Westlaw Today.
In the article, Mr. Maurice reviews rulemaking efforts underway in both New York City and New York State that could change the process through which debts are collected in New York.
“New York City may exclude creditors, but certain creditors may be pulled into DFS’ regulations if they acquire portfolios of consumer debt,” he writes. “If the DFS proposals are adopted in their present form, third-party debt collectors and debt buyers collecting consumer debt in New York State will need a top-down reassessment of their existing collection operations to comply with the amendments; and may find it difficult, if not impossible, to use Regulation F’s Model Validation Notice.”
Donald Maurice represents the financial services industry, successfully litigating matters in appellate and trial courts throughout the country in individual and class actions and guiding businesses, trade associations and financial services companies nationwide in regulatory and compliance matters.