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 brought you a look into 2025 debt collection trends, best practices to navigate digital debt collection in 2025, and news about the FTC stopping a debt collection scheme.
On Tuesday we published a podcast in which Troutman Pepper Locke financial services Attorneys recapped 2024, discussed the implications of the CFPB’s uncertain future, and addressed navigating the debt collection landscape in 2025. In the debt collection world, legal issues are intertwined in day-to-day operations. Learning from 2024 while turning an eye to 2025 is a key to reducing risk for any ARM industry organization.
On Wednesday we brought you an article from TrueAccord regarding best practices for balancing compliance and consumer experience in digital debt collection. It can be a challenge to use 2025 technology to meet 2025 consumer expectations while adhering to the passed-in-1977 FDCPA, a not-so-all-encompassing Reg F, and a myriad of state laws. This article provides key insights into how to stay on top of the shift to a consumer-centric compliance model as well as best practices for doing so.
On Thursday we published news from Orrick detailing a temporary restraining order the FTC obtained against an allegedly fraudulent debt collection company. When criminals masquerade as debt collectors, and the agencies pursuing them don’t make clear that they are criminals, it causes confusion in the marketplace and creates a level of distrust all around. Here, the FTC explicitly referred to the parties it pursued as operating a “scheme.” Hopefully, we see other agencies refer to criminals as criminals instead of making announcements that conflate criminal activity with debt collection.
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!
