News in the ARM industry comes fast and last week was no exception. It can be tough to stay on top of it all, but 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 brought you insights regarding consumers’ contact expectations, and details about the CFPB’s new direction, updates to its stance on supervision and enforcement, as well as its pending medical debt rule.
CFPB news: On Monday we brought you news detailing the CFPB’s newest acting director, and his announcements that (a) the CFPB would not be seeking funding; and (b) supervision and enforcement were to come to a stop. On Wednesday we brought you an update regarding the CFPB’s request to pause the litigation regarding its medical debt collection rule.
For the last four years, the ARM industry has been spinning in circles trying to meet the whims of director Chopra and his team. The breakneck speed at which the CFPB, at the hand of the former director, issued initiatives- whether or not the CFPB had authority to do so- was a drain on both compliance and operational resources. Those in the ARM industry should pay attention to the CFPB’s current direction and be cautiously hopeful that they might have an opportunity to focus on business without the rules of the game constantly changing (at least at the federal level, be wary of the states!).
On Thursday we brought you information about what consumers really want when they’re communicating with a call center. This report from TCN provided valuable insights into consumers’ evolving wants and needs, and how that evolution can impact an organization. Understanding the meaning of this report can help those in the ARM industry protect their brand and meet their goals.
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!
