ono-kosuki / pexelsWith so much in the ARM industry constantly in flux, taking a step back after a holiday week to get our bearings on what’s truly relevant on the news front can be helpful to get back in the swing of things. This week’s weekly recap of top stories will give you the news we found most interesting the week before the holiday, and more importantly, why we think it’s relevant.
On Tuesday, 11/18, we brought you news from Orrick about the CFPB’s information security program downgrade. The Fed’s Office of Inspector General issued a report indicating the program’s maturity level was no longer effective. Those in the ARM industry should pay attention to this news for a few reasons. It’s yet another illustration of the steep decline of the CFPB, and it provides insight into the OIG’s expectations of the CFPB.
On Wednesday, 11/19, we published news from Hudson Cook about revisions to the Massachusetts debt collection and servicing regulation. As the CFPB continues to weaken, states will step up to fill the void. Those collecting in Massachusetts should be sure to review these updates.
On Thursday, 11/20, we brought insights from Phillips & Cohen Associates regarding training strategies that elevate compliance and culture. Training is the backbone of every organization. A training program that lacks engagement and staff buy-in leads to issues down the road. This article provides some key areas to review to ensure your organization is maximizing its training program.
Have a question about how your company should react to the news above? We have a group for that! The weekly peer roundtable hosted by insideARM’s Research Assistant is the perfect place to ask a question and get advice from industry colleagues facing the same challenges you are. Try it on for size with our 1-month free trial.
