REGULATING AGENCY: Department of Financial Services; Community and Regional Banks Division
- Adrienne A. Harris, Acting Superintendent of Financial Services
- Yolanda Ford, Deputy Superintendent of Banks
- Website: dfs.ny.gov
- Press Releases
LEAGUE: New York Credit Union Association
PRIVATE SHARE INSURANCE: No
STATS: (As of Q4 2021)
Total Number of Credit Unions: 308
- TOTAL # SCUs: 15
- TOTAL # FCUs: 293
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 5%
Total Assets: $112,742,693,064
- TOTAL $ SCU ASSETS: $17,025,018,427
- TOTAL $ FCU ASSETS: $95,717,674,637
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 15%
Total Members: 6,310,129
- TOTAL Members SCUs: 1,335,630
- TOTAL Members FCUs: 4,974,499
- SCU % OF TOTAL (SCUS/STATE TOAL): 21%
FUN FACT: Wade Boggs and Cal Ripken Jr. played against each other in Rochester vs. Pawtucket Red Sox in the longest game in baseball history. The game went a total of 33 innings.
ACTING SUPERINTENDENT ADRIENNE A. HARRIS ANNOUNCES PROPOSED AMENDMENT TO PROTECT CONSUMERS FROM PREDATORY DEBT COLLECTION
Proposed Amendment to Debt Collection Regulation Will Help Ensure New Yorkers Pay Only Debts They Owe and Only Pay Them Once
December 15, 2021 — Acting Superintendent of Financial Services Adrienne A. Harris today announced that the New York State Department of Financial Services (DFS) proposed a new amendment to 23 NYCRR 1, the Department’s regulation governing debt collectors and debt buyers, to protect consumers from predatory debt collection practices and scams. Considering the findings from DFS’ investigations of abusive and deceptive debt collection, as well as data on consumer complaints to regulators, the Department is proposing the amendment to ensure consumers pay only debts they owe and pay them only once.
“Predatory debt collection practices can deceive consumers and ultimately lead them further into economic hardship,” said Acting Superintendent Harris. “DFS’ proposed amendment requires clear communication on consumer debt obligations and ensures the consumer has the right information to dispute the validity of the debt. This amendment enhances consumer protections through increased transparency and prevention of harassment, helping put people on a path to financial well-being.”
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