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Here’s what SB 3803 says: [Principal creditors or agents may not] “use a social networking website as a means to collect on a consumer claim from a debtor. Originalcreditors, consumers, and collection agencies are obviously the people most impacted should the New York bill become law. Who Does This Affect?
where the debt collector sent a letter on behalf of a debt buyer creditor. The letter listed the debt buyer as the current creditor and Washington Mutual as the originalcreditor. The consumer sued, arguing that including two entities on the letter confuses the consumer as to which creditor the debt is owed.
Moreover, the op-ed noted that according to a 2021 report, the greatest number of victims in 2020 by industry were in manufacturing, professional and legal services, and construction. Previously, Khan served as a legal advisor to former FTC Commissioner Rohit Chopra. For more information, click here.
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