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A consumer debt collection agency was shut down by New York Attorney General Eric Schneiderman on Thursday morning after dozens of complaints were filed about the company's business tactics.
May 1 -
Fast-tracking foreclosures on vacant properties in states that handle foreclosures through the courts "could result in substantial cost savings" for all involved, according to a study by Federal Reserve Bank of Cleveland.
March 7
New York Attorney General Eric Schneiderman
Schneiderman first took aim at the practice
Under Schneiderman's renewed push to pass the bill, city councils throughout the state, including in Albany and Poughkeepsie, are scheduled to take up resolutions urging the passage of the attorney general's proposal. A similar resolution will also be introduced for consideration by the New York City Council.
"Zombie properties threaten neighborhoods across New York State, from big cities to small towns," the attorney general said in a press release. "Our bill will keep communities safer and lessen the burden of municipalities still struggling to recover from the housing crisis."
The issue has recently received attention from federal regulators. The Consumer Financial Protection Bureau