peshkova / AdobestockNews in the ARM industry comes fast. 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 into the background of the soon-to-be CFPB director, a court decision regarding state licenses, and a glimpse into how digital channels are improving the process of collecting from an estate- for all involved.
On Tuesday we brought you an article from Orrick that delved into the soon-to-be leader of the CFPB, Jonathan McKernan’s background and notable public statements. The CFPB has been in a constant state of turmoil since the new administration took over. But this chaos isn’t permanent. Understanding Mr. McKernan’s background is the first step in preparing for the McKernan-led CFPB.
On Wednesday we brought you Troutman Pepper Locke’s breakdown of a case in which a Federal Court in Indiana dismissed a case finding that the failure to have a state collection license did not provide for a private right of action under state law and did not violate the Fair Debt Collection Practices Act (FDCA). In a world where consumer attorneys tack the FDCPA (and its fee shifting provision) onto seemingly everything, it’s refreshing to see a case where this strategy doesn’t work.
On Thursday we brought you an article from Phillips & Cohen Associates about how digital channels can improve the estate administration process. Though we’re all aware that digital collections can improve the collections process for consumers, not many of us have thought about how digital collections can make things easier and less stressful for a consumer’s estate. This article provides key insights into the challenges of collecting from an estate and how digital collections can improve the process for all involved.
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