January 17, 2021
DFS ANNOUNCES PAYMENT WITH PAYDAY DEBT COLLECTOR AND PAY DAY LOAN SERVICER CAUSING ALMOST $12 MILLION OF LOAN FORGIVENESS FOR TENS OF THOUSANDS OF NEW CONSUMERS that are YORK
The proposed legislation additionally subjects customer reporting agencies to exams by DFS as frequently once the Superintendent determines is essential, and forbids agencies through the after:
- Directly or indirectly using any scheme, unit or artifice to defraud or mislead a customer.
- Participating in any unjust, deceptive or act that is predatory training toward any customer or misrepresent or omit any product information regarding the the construction, assessment, or upkeep of a credit file for the customer situated in brand brand brand brand New York State.
- Participating in any unjust, misleading, or abusive work or training in violation of part 1036 associated with Dodd-Frank Wall Street Reform and customer Protection Act.
- Including information that is inaccurate any customer report associated with a customer positioned in brand brand New York State.
- Refusing to talk to an official agent of a customer positioned in brand brand New York State whom provides a written authorization finalized by the customer, so long as the customer credit reporting agency may follow procedures fairly associated with verifying that the agent is certainly authorized to behave with respect to the customer.