A new consumer-friendly collection rule in New York City could limit access to auto loans, especially for subprime borrowers. Come Sept. 1, financiers doing business in New York will have to comply with the Stopping Harassment and Intimidation and Ensuring Lawful Debt Rule. The SHIELD Rule, as it’s known, was finalized by the NYC Department of Consumer and Worker Protection in February to protect borrowers from debt collector harassment. But elements of […]
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