New York City’s Department of Consumer Affairs in 2009 passed onerous requirements for ARM companies operating in the city. The new regulations have been widely discussed in the debt collection community ever since. But now that the rules are in full swing, the Department is taking action against collection agencies and debt buyers.
In the latest episode of their ARM legal audio blog, The Debt Collection Drill, attorneys John Rossman and Mike Poncin discuss recent actions by the New York City Department of Consumer Affairs seeking six figure fines from debt collectors for failure to comply with New York City laws and some simple steps all agencies can take to avoid liability.
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