insideARM Weekly Recap – Week of January 27th, 2025

Sorting out what’s news and what’s noise can be a daunting task. insideARM’s weekly recap of top stories will give you the news we found most interesting last week and more importantly- why we think it’s relevant. Last week we covered an update to the effective date of New York City’s debt collection rule, a Florida case regarding the assignability of FCCPA claims, the CFPB’s restart of the sandbox and no-action letter programs, and an insight into what technology will look like in the ARM space in 2025. 

On Tuesday we published news from Troutman Pepper Locke about the New York City DWCP pushing the effective date of its debt collection rule to October 1, 2025. Anyone collecting debts in New York City should continue to watch for developments because a new draft of the rule is expected between now and the effective date.  We also brought you news from Florida regarding whether an FCCPA claim is assignable. Florida has been home to some very interesting legal theories in recent years which are often copied in other states. Cases like this, where the court denies the consumer’s claim, are good to keep on hand and can prepare you should any of these novel legal theories cross your desk. 

On Wednesday we brought you news from Ballard Spahr with the details about the CFPBs reestablishment of its regulatory sandbox and no action letter programs. These programs were available during the first Trump Administration but scrapped in the Biden Administration. Reopening them might pave the way for innovative solutions to help those in the ARM industry better serve their clients and consumers. Additionally, ARM industry innovators should be apprised of the steps required to utilize this program. 

On Thursday we brought you insights from Finvi about ARM technology in 2025. The collections industry continues to grapple with how to utilize new technologies while balancing legal and regulatory requirements. Paying attention to what’s on the horizon in this ever-changing environment can help you decide where to focus your resources.  

Have a question about how your company should react to the news above? We have a group for that! The weekly peer call hosted by insideARM’s Research Assistant is the perfect place to ask a question and get advice from industry colleagues who are facing the same challenges you are. Not sure if it is for you? Try it on for size with our 1-month free trial. Click here to learn more!