Relates to licensing consumer debt collectors

This bill requires consumer debt collectors to obtain a state license before collecting debts from individuals in New York. It establishes specific rules for obtaining a license, including the need to pay fees, post a surety bond, and maintain proper records. The legislation also sets out prohibited actions for collectors and outlines penalties for those who violate the new standards. Certain entities, such as banks, attorneys, and non-profit credit counseling agencies, are exempt from these licensing requirements.