ono-kosuki / pexelsNews in the ARM industry never stops and determining what’s truly relevant can be a challenge. 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 news about a unique twist to an FDCA class-action, Q1 industry insights about the economy and consumer behavior, and details about the CFPB’s restructuring moves.
On Tuesday, we brought you news from Orrick about a court granting a debt collector’s motion to dismiss an 8-year-old class action lawsuit, despite an approved settlement agreement being in place. Though the parties were litigating attorney’s fees, the debt collector for the first time raised a standing issue, which led to the dismissal. We’ve seen standing issues come up more frequently over the last several years, but the circumstances of this one, particularly the age and posture of the litigation, make this case noteworthy.
On Wednesday, we brought you Q1 insights from TrueAccord regarding energy volatility, tax season, and consumer anxiety. This piece includes key economic indicators, plus details on what is impacting the debt collection industry, how consumers are feeling, and what it all means as we look to the future.
On Thursday, we brought you details from Troutman Pepper Locke, about the CFPB’s restructuring, its lease termination, its litigation attorney hiring, and what it all means for the direction of the agency. It seems like we bring this reminder at least once every few weeks, but here it is again: The CFPB is weakened, but it does exist. It’s important to continue to watch what happens here, so that if (and likely when) it does reach a strengthening phase, the ARM industry is prepared to meet those circumstances.
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 engage with industry colleagues facing the same challenges you are. Try it on for size with our 1-month free trial.
