Debt Collectors Face Six Figure Fines in New York City: Is Your Agency Next?

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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.

Listen to the 12-minute podcast below:

Debt Collectors Face Six Figure Fines in New York City

http://traffic.libsyn.com/thedrill/TDCD_ep272.mp3

(if you can’t see the player above, listen to the clip at http://traffic.libsyn.com/thedrill/TDCD_ep272.mp3)

If you’d like to hear more from ARM attorneys, be sure to register for the next session of the popular ARM legal webinar series Ask the Attorney, scheduled for Thursday, June 20.

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Posted in Collection Laws and Regulations, Debt Buying, Debt Collection, Featured Post, Opinion .

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  • avatar casey says:

    I would strongly advise anyone speaking to a NY city consumer that the following statement will result in bigger fines. “Please hold mr consumer while I take a refreshing sip from my 32oz Big Gulp”.

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