Relates to licensing consumer debt collectors

This bill requires businesses that collect personal or family debts (like credit card or medical bills) to obtain a license from the state banking regulator before operating in New York. It sets minimum standards for debt collection practices, prohibits deceptive or abusive tactics, and establishes penalties for violations. The law directly affects debt collection agencies, debt buyers, and any business regularly collecting consumer debts within the state, while exempting certain entities like banks, attorneys, and nonprofits. Key provisions include mandatory licensing, background checks for owners, required surety bonds, and rules governing how collectors can communicate with debtors.