New York financial regulator Benjamin Lawsky is joining the crackdown on the debt collection industry, proposing new rules that would tighten record-keeping requirements and other collections practices for banks and third-party debt buyers.

Lawsky, the superintendent of financial services for New York state, unveiled his new set of rules on Thursday. The proposed reforms add to a groundswell of recent regulatory pressure on the debt collection industry, which is already facing scrutiny, lawsuits and potential enforcement actions from the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, the Federal Trade Commission and state attorneys general.

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