Home / Daily Digest / Daily Digest – December 5. Lawyers Discuss Impact of Changes at CFPB on ARM Industry; Lawmakers Reunite To Argue Against Mulvaney Running CFPB

Daily Digest – December 5. Lawyers Discuss Impact of Changes at CFPB on ARM Industry; Lawmakers Reunite To Argue Against Mulvaney Running CFPB

The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide. 

WEBINAR RECORDING: LAWYERS DISCUSS CHANGES AT CFPB, WHAT THEY MEAN FOR ARM INDUSTRY 

  • Those in the ARM industry who think that the change in leadership at the Consumer Financial Protection Bureau is the first step in spending less time and money on compliance are likely to be surprised that life is not likely to get any easier, according to a panel of lawyers who spoke last week on a webinar about how the changes at the agency are impacting the collections business.

 

LAWMAKERS REUNITE TO ARGUE AGAINST MULVANEY RUNNING CFPB

  • The architects of the law that created the Consumer Financial Protection Bureau said they law intended for the deputy director of the agency to take over in the event the director left and that the Federal Vacancies Reform Act should not be used to name a replacement. Former Sen. Christopher Dodd and former Rep. Barney Frank said a federal judge got it wrong last week when he denied a temporary restraining order preventing President Trump’s chosen interim replacement, Mick Mulvaney, from running the agency.

 

CREDIT UNIONS GET SUPPORT FROM CONGRESS IN FIGHT FOR TCPA EXEMPTION

  • A dozen members of Congress have stepped up to help credit unions in their fight to get an exemption from the Federal Communications Commission with respect to complying with the Telephone Consumer Protection Act. The bipartisan support from members of the House of Representatives is meant to help clear up “uncertainty” surrounding the TCPA.

 

CITY USING DEBT COLLECTORS TO HELP CUT DOWN ON FALSE SECURITY ALARMS

  • The city of Cleveland is planning on using debt collectors to help curtail the number of false security alarms that local law enforcement respond to every year.

 

LEMBERG LAW CONDUCTS ANALYSIS OF CFPB COMPLAINT DATA

  • Lemberg Law, the firm run by consumer attorney Sergei Lemberg, has performed its own analysis of the complaint data filed by individuals with the Consumer Financial Protection Bureau and has noted three trends. The analysis provides some interesting context into how consumer attorneys view the CFPB’s complaint database and may indicate what is of interest to plaintiff’s attorneys.

 

REPORT HIGHLIGHTS ‘OTHER’ STUDENT DEBT CRISIS

  • As many as 1 million college students drop out or stop attending classes every year because of the money that they owe the institutions they are attending. Not student loans, per se, but back tuition, housing bills, library and lab fees. Universities will prevent students from enrolling in classes, graduate, transfer credits, or even try for certain forms of federal aid if they have an unpaid balance with the school.

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If at first you don’t succeed …

Why suit pockets are sewn shut

The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide. 

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