Tag Archives: New York Department of Financial Services

The New York Department of Financial Services yesterday issued its long-awaited debt collection rule amendments, which are scheduled to take effect in 180 days, in late June 2023. Among the amendments are: When sending written notification within five days after the initial communication, collectors must include validation information required under …

The New York Department of Financial Services yesterday announced proposed amendments to its cybersecurity regulation, including increasing the size threshold for companies that are exempt from following much of the regulation, while also requiring more risk and vulnerability assessments and investing in training and cybersecurity awareness programs, among other changes. …

The New York Department of Financial Services has assessed a fine of $4.5 million to a company for violating its cybersecurity regulations after an employee of the company was victimized by a phishing attack, which exposed non-public personal health data of hundreds of thousands of individuals, including minors. A copy …

The New York Department of Financial Services yesterday announced it was relaunching its Consumer Protection Advisory Council, and that the group has already held its first meeting. Along with bringing the group out of mothballs, the DFS also sought to expand Council’s membership, adding 14 new members, bringing the overall …

The New York Department of Financial Services has issued guidance “to address potential confusion” about how to comply with a new statute of limitations requirement that went into effect last week, lowering the period to three years while also disallowing a partial payment to restart the statute of limitations, and …

Today is not only St. Valentine’s Day, but it is also the last day to submit comments to the New York Department of Financial Services to let them know what you think of their proposed amendments to the state’s debt collection regulations. It has been 60 days since the DFS …

The New York Department of Financial Services yesterday released its proposed amendment to the state’s debt collection regulation, which adopts some of what is included in Regulation F, while also introducing some new wrinkles that seek to protect consumers by putting them on “a path to financial well-being,” according to …

The New York State Department of Financial Services has issued a proposed regulation that aims to protect consumers who are provided misinformation about whether healthcare providers are part of their insurance network. The proposed regulation is an attempt, being promoted by consumer advocacy groups, to reduce what are known as …

The New York Department of Financial Services has issued a series of amendments to its debt collection rules for third-party debt collectors and debt buyers that could change how consumers are communicated with, including the information that must be provided after an initial communication is made. Comments on the proposed …

New York Gov. Kathy Hochul yesterday nominated Adrienne Harris, a former economic advisor to President Obama, to be the next Superintendent of the state’s Department of Financial Services. Harris, if confirmed, will replaced Linda Lacewell, who resigned last month in the wake of the scandal that brought down Gov. Andrew …