Sorting 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 House Financial Services Committee’s request for feedback on current federal consumer financial data privacy law, updates on the lawsuit regarding CFPB staffing, and pointers for how to strategically diversify your collection agency.
On Tuesday, we brought you news from Orrick about the House Financial Services Committee’s request for feedback on current federal consumer financial data privacy law. The committee asked for feedback in several areas, including whether to establish a preemptive federal standard or maintain the current federal floor, and how a preemptive federal standard should interact with state laws. In recent years, we’ve seen a patchwork of state data privacy laws pop up. No two laws are the same, creating challenges for compliance and operations teams. A federal standard may alleviate some of these challenges, and interested stakeholders may want to consider filing comments.
On Wednesday, we brought you an update from Troutman Pepper Locke discussing a decision in the CFPB staffing case that vacated the injunction restricting the CFPB’s actions to halt the Bureau’s operations and terminate its employees. Though the story isn’t over, and the CFPB has undoubtedly already been altered, this decision does not mean that the CFPB is no more. ARM industry stakeholders should continue to pay attention as this story evolves.
On Thursday, we brought you tips from ARM Compliance Business Solutions about how to diversify your collection agency. Diversification can be challenging. Where do you start? What should you look at? And how can you implement changes? This article walks through easy-to-understand steps your organization can take to diversify.
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!
