insideARM Weekly Recap- Week of April 22nd, 2024

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The insideARM team aims to bring you only the information ARM industry professionals need to know each week in order to stay up to date in the volatile world of debt collection. The most important news from last week involved emails and the FDCPA, the CFPB’s continued attempts to expand the scope of its supervision, and the NCLC’s influence on legislation. Continue reading for a summary of these articles and why we published them for you.

On Tuesday, we wanted to focus on the ongoing issue of sending emails and complying with the FDCPA by sharing a piece by John Rossman. The article tackled the current problem of email delays and subsequent class action lawsuits brought by consumer attorneys. Consumer attorneys are pushing the boundaries of the FDCPA by claiming that emails are being sent by collectors at inopportune times. The emails are being sent at allowed times but arrive too late or too early due to delays by email carriers. The piece also details how to identify these delays and, ultimately, defeat class action certification.

We highlighted an article by Troutman Pepper on Wednesday concerning the most recent move by the CFPB regarding its supervision of nonbank entities. This procedural rule looks to entice nonbanks to consent to supervision by the CFPB while also streamlining their process regarding timelines, decision-making, and notice provisions. This rule amends and enhances procedures from 2013 and is a continuation of recent CFPB actions regarding their supervisory role. The CFPB announced in 2022 that they would be more active using this authority, began doing so in 2023 and 2024, and we do not anticipate them to stop there.

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