Regulators seek to reduce harassing debt collection calls

July 26, 2013

ALBANY, N.Y. (AP) — New York financial regulators want to curb abuse by debt collectors by requiring them to verify all disputed claims, advise consumers when the statute of limitations has expired on debts and confirm settlement agreements in writing.

The Department of Financial Services' proposed regulations would also authorize consumers to choose email for communications from collectors to reduce harassing phone calls and keep better records of interactions.

Associated Press 2013. All rights reserved.