The top sign is straightforward enough: “Tow Away No Parking Except by Permit. Holidays Exempt.” Got it—no parking unless you have a permit, except on holidays.
But right below it, another sign completely disrupts that clarity. When you read the second sign from left to right, it says: “No Street Sweeping; Parking Tuesday; Except Holidays; 7 a.m. – 11 a.m.”
Wait… what? Does this mean no parking at all? No parking on Tuesdays? Only on holidays? Is street sweeping happening or not? And if today happens to be a Tuesday holiday (does Taco Tuesday count?), am I safe to park—or about to get towed?
Wouldn’t it be great if the debt collection regulatory landscape were as simple as that first sign—“Tow Away No Parking.” Clear, direct, and no room for confusion. Unfortunately, debt collection laws and regulations often feel more like that second sign—layered, evolving, and at times, contradictory.
Regulatory Complexity: The CFPB and Beyond
If you’re in the debt collection space, you’ve seen the constant evolution of Consumer Financial Protection Bureau (CFPB) rules. In the past few weeks alone, the pace of change may feel overwhelming. But no matter how the CFPB shifts —or even if it were to disappear entirely—one thing remains unchanged: compliance is not optional.
The CFPB may get the most attention, but don’t underestimate state and local regulations.
State Regulations: The NYC Example
Sometimes, CFPB rules are more straightforward than state or city-specific regulations. Take New York City, for example. The Department of Consumer and Worker Protection (DCWP) has updated its debt collection rules, with changes taking effect on October 1, 2025.
But don’t let that future date lull you into complacency—preparation should start now. And just to keep things interesting, in NYC, even creditors collecting their own debts are considered “debt collectors.” Talk about broad definitions!
The DCWP has been updating its FAQs, so staying informed is crucial: https://www.nyc.gov/site/dca/businesses/debt-collection-rules-faq.page
My Soapbox: Stay Focused Amid the Noise
The takeaway? Just like we’d prefer a simple “No Parking” sign to avoid towing confusion, debt collection regulations will never be that simple.
- Stay vigilant—debt collection laws aren’t disappearing.
- Don’t get distracted by the noise—focus on compliance.
- Be proactive—because regulations aren’t waiting for you to catch up.
At the end of the day, clear compliance strategies will keep you from getting “towed” in the regulatory landscape.
Author: Bev Evancic
Bev.Evancic@ResourceManagement.com
Bev Evancic is a Senior Vice President at Resource Management Services, Inc. Prior to employment at RMS, Bev worked as the Collection and Recovery Manager at AT&T Universal Card, Citi, and Federated Department Stores. Bev started in the collection industry as a collector at an upscale clothing store in Cincinnati, Ohio. As a returned check and private label credit card collector, Bev gained a basic understanding of the collection industry that has not changed with the introduction of regulations. Her collection philosophy begins with the idea that businesses and customers benefit from preserving the customer relationship. First, collectors need to attempt to contact customers when it is convenient for the customer to discuss his/her financial condition and willingness/ability to pay. Second, you never collect money by intimidating or threatening customers. Third, businesses must make sure the debt is valid.
She has managed all phases of collection and recovery operations, including automated dialer units, bankruptcy, and legal units, skip tracing units, internal collections, outside collection agency networks, and Consumer Credit Counseling. As a Consultant for Resource Management Services, Inc., Bev has spearheaded collection and recovery best practices reviews for many top credit grantors. Her articles on dialer operations, agency management and bankruptcy best practices have been widely publicized.
She is well known and regarded as a specialty expert in the areas of: Repossession, Bankruptcy, Estate, Litigation, as well as Pre- and Post- Charge-off. Prior to joining Resource Management Services, Inc. in 1995, Bev managed the Recovery Department for AT&T Universal Card Services where she developed the bankruptcy, probate, internal and litigation processes.
She is the author of “Recovery Management: Collecting the Uncollectible Account.”
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