FINANCE: Debt Collection Removed From "Essential Business" List - Now Non-Essential

The New York State “essentials” vs “non-essentials” list is updated on an ongoing basis. As of yesterday (April 8, 2020), an edit was made to the Financial Services section of the Essential Businesses list. Debt Collection is no longer considered an essential business.

Assemblyperson Jonathan Jacobson’s office today reached out to A Little Beacon Blog about this update, stating: “New York State has issued an updated list of what is and what isn’t considered essential services and explicitly bans debt collection.” Assemblyperson Jacobson’s office gets daily updates from Governor Andrew Cuomo’s office, with an overview of changes.

Here is the change to the Essential Businesses section:

7. Financial Institutions including

banks or lending institution
insurance
payroll
accounting
services related to financial markets, except debt collection

As of April 9, 2020, this definition is included as guidance for essential vs non-essential businesses on the New York State Coronavirus website: “With respect to business or entities that operate or provide both essential and non-essential services, supplies or support, only those lines and/or business operations that are necessary to support the essential services, supplies, or support are exempt from the workforce reduction restrictions.”