ann-h / pexelsNews in the ARM industry never stops and sorting out what’s news and what’s noise 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 Virginia’s updated garnishment laws, operational insights to prevent consumers from “ghosting,” and details about changes to Colorado’s AI law.
On Tuesday, we brought you news from Orrick about Virginia’s amended garnishment law which increases a consumer’s garnishment exemptions. Even if your organization doesn’t litigate in Virginia, changes to garnishment exemptions will affect collectability overall in the state. Additionally, this is worth noting from a big-picture perspective, as other states may use this as a guide to tweak their garnishment laws.
On Wednesday, we brought you strategies from TrueAccord about how to navigate consumer “ghosting.” Losing contact with a consumer after making contact is not a new phenomenon, but new technologies provide new solutions to the issue. This piece walks through some of the steps an organization can take to maintain contact with consumers.
On Thursday, we brought you insights from Troutman Pepper Locke about amendments to Colorado’s AI law. Colorado was one of the first states on the board with AI legislation, and the original law left plenty of gaps and room for interpretation. These amendments attempt to cure those gaps, and these changes are worth paying attention to as other states seek to regulate AI and may look to Colorado as a roadmap.
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.
