ibelieveicanfly / AdobestockNews in the ARM industry never stops. It’s impossible to read every single thing, every single day, and it can be a challenge to determine what’s truly relevant. That’s where insideARM’s weekly recap comes in. Our 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 breakdown of New York City’s proposed regulation affecting debt collectors, a litigation win that might signal the end of “Hunstein” cases in state court, and new requirements from Nevada regarding safeguarding consumer information.
On Tuesday we published a breakdown of New York City’s proposed update to its debt collection rule from TrueAccord. The proposal is comprehensive and seems to touch on every aspect of debt collection. As New York goes, so go others, so even if your organization doesn’t collect from New York City consumers, everyone in the industry should be paying attention and filing a comment if they can (comments are due on June 10, 2025). This article provides an excellent breakdown for anyone who would like to know what’s hidden in the legalese.
On Wednesday we brought you news from Sessions, Israel, and Shartle about a NJ case that might signal the end of copycat Hunstein litigation in state courts. Hunstein copycat cases have been a thorn in the side of debt collectors since 2021. Though the federal courts have clearly punted these out of their courtrooms, these cases continue to make the rounds in state courts. The language used by the court in this case though in ruling in the debt collectors favor, finally signals some common sense may be on the horizon.
On Thursday we published news from Orrick about Nevada’s new Consumer safeguarding standards. Per Orrick, debt collectors are subject to the rule. Though the rule appears to be in line with the FTC standards, it should still be noted for those collecting from Nevada consumers.
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!
