New York City Launches Debt Resolution Program for Small Businesses and Homeowners

New York City officials have announced a debt resolution program that allows eligiblesmall-business owners and homeowners to resolve certain outstanding municipal fines at a reduced cost.  The program, known as Debt Demolisher, was announced by Mayor Zohran Kwame Mamdani and New York City Department of Finance (DOF) Commissioner Richard Lee. It allows eligible New York City residents to have accrued interest waived and settle qualifying debt at a discounted rate. […]

Viral Social Media Trend Raises Questions About Medical Debt and Account Resolution 

A growing social media trend is encouraging patients to refuse, ignore, or dispute hospital bills, according to reports from The Wall Street Journal and Becker’s Hospital Review. Posts across various platforms provide instructions for challenging medical charges, requesting itemized statements containing specific medical codes, and avoiding collection notices. Some influencers go further, claiming hospitals routinely write off unpaid accounts rather than pursue collection efforts.  According to The Wall Street Journal, […]

NYC DCWP Provides Overview of SHIELD Rule Taking Effect Jan. 1, 2027 

New York City’s Department of Consumer and Worker Protection (DCWP) recently provided an overview of the city’s debt collection SHIELD Rule, which will take effect Jan. 1, 2027. The Oct. 5 webinar addressed questions from the receivables management industry regarding disclosure requirements, communication practices, and other compliance considerations.  During the webinar, DCWP staff discussed the scope of the SHIELD Rule, key definitions, core compliance requirements, and several specialized topics, including […]

Don’t Stop at the Ping-Pong Ball 

With the exception of occasionally having those little turtles that were later banned because of salmonella, I never had pets growing up. But I really wanted a dog.  So, when I was in high school, I saw a sign announcing that one of the local summer church festivals would be giving away puppies. Puppies! This was my chance.  I asked my Mom and Dad if I could try to get […]

NYC DCWP to Provide Overview of SHIELD Rule for Debt Collectors

The New York City Department of Consumer and Worker Protection (DCWP) will provide an overview of its debt collection SHIELD Rule during a webinar for regulated entities from 2 to 3:30 p.m. on Oct. 5, 2026. The DCWP 101 webinar will cover several areas of the SHIELD Rule, including:  Front-end disclosures  Communication requirements  Disputed debt and verification obligations  Time-barred debt  Medical debt  Language access services  Compliance records  The DCWP has […]

Washington DOL Announces Public Hearing on Collection Agency Licensing Fees 

The Washington Department of Licensing (DOL) will hold a public hearing on proposed changes to rules regulating collection agencies on Oct. 27, 2026, at 2 p.m. PT.  The department is proposing changes to WAC 308-29-045 that would clarify application fees and increase certain licensing fees for collection agencies.  Public Hearing Details  The public hearing will be available both in person and virtually.  Date: Oct. 27, 2026 Time: 2 p.m. PT Location: Highways […]

Credit Acceptance Reaches $700 Million Settlement With State Attorneys General

New York Attorney General Letitia James, along with a bipartisan coalition of 39 state attorneys general, the District of Columbia, and the Office of Consumer Protection of the State of Hawaii, reached a $700 million settlement with subprime auto finance lender Credit Acceptance Corporation (CAC) concerning allegations related to lending and sales practices.  The matter originated in January 2023, when the New York attorney general and the Consumer Financial Protection […]

CSBS Publishes Artificial Intelligence Supervisory Framework for Financial Institutions 

The Conference of State Bank Supervisors (CSBS) published its Artificial Intelligence Supervisory Framework on Sept. 16. The framework provides examiners with a structured, risk-based approach for reviewing artificial intelligence (AI) governance, operational oversight, and regulatory compliance at state-chartered banks and state-licensed nonbank financial institutions.  As comprehensive federal AI standards continue to develop, state financial regulators are establishing supervisory expectations for the use and oversight of AI. Approved by the CSBS […]

AI and Recordkeeping: Compliance Considerations for Financial Services 

Financial institutions are increasingly integrating artificial intelligence (AI) into compliance, communications and operational functions. As adoption expands, financial services organizations are also considering how existing regulatory requirements apply to technology that was not specifically contemplated when many of those rules were established.  During a panel hosted by technology firm Red Oak, securities lawyers, compliance executives and technology providers discussed regulatory considerations surrounding AI adoption. Panelists emphasized that the absence of […]

New York DFS Issues Cybersecurity Risk Assessment Guidance 

The New York State Department of Financial Services (DFS) has released new guidance for regulated entities regarding cybersecurity risk assessments.  Announced by DFS Acting Superintendent Kaitlin Asrow on Sept. 10, 2026, the guidance does not establish new requirements. Instead, it provides clarification regarding compliance obligations under New York’s cybersecurity regulation, 23 NYCRR Part 500.   “Risk assessments are the foundation of a strong cybersecurity program,” Asrow said. “As cybersecurity risks evolve […]