News in the ARM industry moves at lightning speed; determining what’s important and what’s just noise can be challenging. This is why the editorial team at insideARM sifts through all the news and brings you the need-to-know highlights.
On Tuesday, we reported that the FCC has set April 11, 2025, as the effective date for new rules under the Telephone Consumer Protection Act (TCPA) that streamline consumer rights for revoking consent to receive calls and texts. These rules, adopted in February 2024, require callers to honor do-not-call and consent revocation requests within 10 business days. Additionally, the FCC codified that consumers may revoke consent through any reasonable means and clarified that a one-time text confirming a consumer’s opt-out request is compliant if it contains no marketing content. When using artificial intelligence, such as artificial voice, there are more requirements that must be followed as not as many calls and texts meet the exempt criteria as communications from humans do. Teams should be aware of these dates to stay in compliance.
On Wednesday we published an update from the Fifth Circuit, which granted an expedited appeal in the Texas Bankers Association’s challenge to the CFPB’s Final Rule under Section 1071 of the Dodd-Frank Act, concerning small business lending data collection. Oral arguments are set for February 3, 2025, but the court denied a temporary stay of the Final Rule’s compliance dates, meaning these remain in effect, with the earliest compliance deadline on July 18, 2025, for large lenders. This appeal follows an August 2024 district court ruling favoring the CFPB, which plaintiffs quickly appealed. Opening briefs are due by December 3, with the briefing schedule wrapping up by January 16, 2025.
Finally, we shared Part 2 of Debra Ciskey’s analysis of the CFPB’s Advisory Opinion regarding medical debt collection, effective December 3, 2024. She critiques the CFPB’s Advisory Opinion on medical debt collection, noting its impractical expectations for debt collectors. ACA International recently filed a lawsuit arguing the CFPB sidestepped proper rulemaking procedures and imposed requirements that contradict the FDCPA. Key points include the challenge of verifying medical billing codes, which debt collectors are neither equipped nor obligated to do, and the advisory opinion’s assumption that all medical debts may be incorrect. Ciskey argues that holding debt collectors accountable for systemic healthcare billing issues is unrealistic and misplaces the regulatory burden.
As always, we thank you for reading the weekly recap to stay on top of this ever-changing industry! For a breakdown of the week of October 28th, click here.
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