Collection / ARM in New York

Who needs this in New York

A debt-collection agency that collects from New York City residents generally needs a DCWP (formerly DCA) debt-collection license. There is no single statewide collection-agency license that matches the typical state-board model. Debt buyers and certain other models may also have DFS obligations — confirm with DFS before you treat the city license as the whole story.

Where to file

Apply for the NYC DCWP debt-collection license if you collect from city residents. Separately ask DFS whether your model needs a statewide financial-services authority. A New York licensed-lender or mortgage license does not authorize collection work.

Federal overlay

State licensing does not replace the Fair Debt Collection Practices Act, CFPB Regulation F, or the TCPA. Those rules apply whether or not a state issues a license.

Sources

• NMLS / CSBS state agency contacts
• CFPB — Fair Debt Collection Practices Act
• NYC DCWP debt collection