mike-van / 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 details about an ARM industry win involving a “sham” payment plan theory case, news and insights regarding Colorado’s new rules targeting Automated technology and chat bots, and an update regarding the effective date for New York City’s Debt Collection Rule.
On Tuesday, we brought you details from Rossman Kirk on a recent litigation case in which the court discussed and dismissed a consumer’s allegations about a “sham” payment plan as well as other legal theories. The legal discussion in this case is significant for ARM industry participants, regardless of vertical, or collection stage, because it pushes back against an increasingly common approach to FDCPA litigation: taking a collection communication, identifying something it does not say, and then arguing that the omission creates a misleading impression.
On Wednesday, we published news and insights from Troutman Pepper Locke about a proposal from Colorado involving automated decision-making technology and Chatbot safety. These rules, represent the Attorney General’s effort to flesh out the framework of Colorado’s recently updated AI law. Colorado is at the forefront of states taking aim at AI; surely, they will not be the last. Stakeholders should pay attention to these laws and how they evolve.
On Thursday, we published an update from Orrick regarding NYC’s newest effective date for its updated Debt Collection Rule. This rule is a beast to say the least, so the delay should help ARM industry participants ensure any implementation or change issues are resolved.
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