The Federal Trade Commission (FTC) and the Office of the New York Attorney General recently announced plans to hold a dialogue between government and business on June 15, 2015, in Buffalo, New York to discuss issues related to debt collection. They said this would be the first of several “Debt Collection Dialogues” the FTC will hold around the country.
New York has quickly become an important bellwether in the debt collection rule making arena, with new rules announced in late 2014 by the Superintendent of Financial Services to reform debt collection practices by debt collectors, including third-party debt collectors and debt buyers. The Department has since offered these FAQs to assist in clarifying the rules, some of which took effect in March, and others which become effective in August. The Consumer Financial Protection Bureau (CFBP) and others around the country are watching what happens with the implementation of these rules as they consider their own for the industry.
This event seems to be “sold out.” According to the announcement on the FTC’s website, they “can no longer accept pre-registrations for the Buffalo event. On the afternoon of the event, we will admit those who have already pre-registered and then admit others on a first-come-first-served basis. We apologize for the inconvenience.”
If you’d like to take your chances at getting into the meeting on June 15, “Debt Collection Dialogue – Buffalo” will be from 1:30 to 4:30 p.m. in the Burchfield Penney Art Center at SUNY Buffalo State, 1300 Elmwood Avenue, Buffalo, NY.
On a related note, Benjamin Lawsky, who has led New York’s Department of Financial Services for four years, has recently announced that he will be stepping down later this month.