ACA provided an overview of components of part two of the bureau’s rule as they relate to congressional activity on Capitol Hill Tuesday. The ACA Huddle series on part two of the rule continues through Jan. 15. Editor’s note: This article is available for members only.
1/5/2021 14:00
In the latest ACA Huddle, which is part of the series on part two of the Consumer Financial Protection Bureau’s final debt collection rule, ACA International’s Vice President and Senior Counsel of Federal Advocacy Leah Dempsey conducted a Q&A with Washington insiders on how the rule intersects with congressional activity on Capitol Hill.
During the Jan. 5 webinar, “The Rule is Final: Where Do We Go From Here at the CFPB and in Congress?,” Dempsey talked with Mark Brennan, lead innovation partner at Hogan Lovells, Ryan Donovan, chief advocacy officer at the Credit Union National Association, and Jane Luxton, partner at Lewis Brisbois Bisgaard & Smith LLP.
The webinar covered congressional efforts for executive orders to rescind the rule, most recently from U.S. Rep. Maxine Waters, D-Calif., chairwoman of the House Financial Services Committee.
Waters has called for sweeping measures under President-elect Joe Biden’s administration impacting oversight of the accounts receivable management (ARM) industry and its ability to work with consumers, ACA previously reported.
In a letter to Biden, Waters seeks to reverse actions of the Trump administration, including the CFPB’s debt collection rule and appointment of Director Kathy Kraninger.
Part two of the rule will take effect on Nov. 30, 2021—the same date as part one of the rule.
Tuesday’s ACA Huddle also focused on how potential new leadership at the CFPB could change the rule and where it might be on their priority list.
While the final rule has been released, the group stressed that advocacy work is never done and explained how it intersects with the work of other regulators who oversee the ARM industry.
On Dec. 30, the Federal Communications Commission issued its Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act orders concerning Telephone Consumer Protection Act exemptions for prerecorded calls to landlines and call blocking, ACA previously reported.
The FCC’s orders are independent from the CFPB’s rule but present new requirements for nonmarketing calls.
ACA is currently considering next steps in advocating against the arbitrary actions taken by the FCC regarding adding new requirements for the exemption.
ACA Huddle CFPB Rule Series Webinars Continue
ACA’s panel of experts continues to review the comprehensive rule and will be providing detailed analysis and compliance resources throughout this series of complimentary webinars, which continue through Jan. 15. Log on to acainternational.org and select My ACA to subscribe to Member Alerts under email subscriptions.
On Jan. 6, Kim Phan, partner at Ballard Spahr: Leslie Bender, IFCCE, CCCO, senior counsel at Clark Hill PLC: and Jeff DiMatteo, president of American Profit Recovery, will discuss credit reporting as it relates to part two of the rule. The rule prohibits a debt collector from furnishing information to a consumer reporting agency about a debt before taking specific actions to contact the consumer about that debt. The webinar will include an additional 15 minutes of discussion to cover credit reporting and members’ questions.
On Thursday, Jan. 7, Keith Kettelkamp, president and CEO of Remex Inc., Eileen Bitterman, compliance officer at Weltman, Weinberg & Reis Co., L.P.A., and G. Scott Purcell, ACA president and president of Professional Credit, will review long-awaited guidance on validation notices.
Read more on all the upcoming webinars and register here.
ACA members can also download the ACA Mobile app for reminders on the upcoming ACA Huddle webinars and listen to the presentations, live or recorded, on the go.
Thank you to the sponsors of the ACA Huddle CFPB Rule Series, Neustar and Ontario Systems.
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