A bill has been introduced in the New York legislature that would place a tax on the data collected and used by business for commercial purposes, although the threshold for being subject to the tax appears to be very high. The bill, S4959, was introduced earlier this week by state …
Read More »State AGs Make Argument To Congress for Broad Student Loan Debt Consolidation
A group of 17 state Attorneys General have written a letter to Congress endorsing a plan that would cancel $50,000 of student loan debt for all federal student loan borrowers. The letter, written by the AGs of Massachusetts, New York, Connecticut, Delaware, the District of Columbia, Hawaii, Illinois, Maryland, Minnesota, …
Read More »States Sue Bank Regulator to Overturn ‘True Lender’ Rule
A group of eight state attorneys general filed suit yesterday in federal court in New York to block a rule that was issued by the Office of the Comptroller of the Currency that aimed to close a gap in the process of banks selling loans to third parties, such as …
Read More »New York Enacts Law To Restrict Collections From Deceased Individuals’ Family Members
Eric Rosenkoetter from Maurice Wutscher has published an article alerting the credit and collection industry to a new law that will go into effect in New York in March that clarifies how collectors and creditors can attempt to collect debts from deceased individuals. The bill, SB 3491A, was signed into …
Read More »Student Loan Servicer to Pay $9 Million For Engaging in Illegal Practices
The New York Department of Financial Services and the Attorney General of New York announced on Friday that Conduent Education Services has agreed to pay $9 million in fines and penalties for “engaging in practices” that harmed student loan borrowers, including misinforming them that they had to pay the delinquent …
Read More »State AGs Line Up Against BCFP to Fight For Public Access to Complaint Database
The new attorney general of New York is picking up the consumer protection battle right where her predecessor left off, and is planning on taking on the Bureau of Consumer Financial Protection. Barbara Underwood, who took over from Eric Schneiderman last month when he resigned abruptly, said she is leading …
Read More »NY Appeals Court Rules Out-of-State Residents Not Subject to DMV Service Requirement
A New York appellate court has limited the scope of a long-held rule that prohibited defendants from arguing that they did not receive service of a lawsuit if they failed to update their address with the Department of Motor Vehicles and service was provided to whatever address the DMV had …
Read More »