mike-van / pexelsSorting out what’s news and what’s noise can be challenging, but insideARM’s weekly recap can help. 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 news about the industry’s push for changes to TCPA rules, details from a legal win that can provide a blueprint for defending vague, shotgun style, pleadings, and insights into New York’s aims for future consumer financial laws.
On Tuesday we brought you Troutman Pepper Locke’s breakdown of the ARM industry’s push for significant reforms to the TCPA. The primary focus is on eliminating rules that impose undue compliance burdens and conflict with existing debt collection regulations. The ARM industry has long complained that the TCPA creates illogical and undue compliance burdens. With the current administration’s verbalized intent to deregulate, the ARM industry should stay aware of developments here.
On Wednesday we brought you details from a litigation win secured by one of insideARM’s Legal Advisory Board (LAB), member John Rossman (Rossman Kirk). In this case, the court took specific issue with “shotgun” style pleadings, and cautioned that Reg F does not equal the FDCPA. The opinion is full of language in the debt collector’s favor that others can use to fight vague FDCPA actions, or cases based entirely on alleged violations of Reg F. It’s a must read for those involved in the defense of FDCPA claims.
On Thursday we published insights from Orrick regarding a report from New York that highlighted areas to strengthen consumer financial laws. The report identified five areas where state and city intervention may be necessary and called for regulation of certain loan products. New York regulations are often copy-catted by other states; industry stakeholders should keep an eye on what comes next.
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!
