Join industry experts Leah Dempsey, Brian Johnson and Scott Purcell as they discuss the complexities surrounding major changes with the CFPB and its future.
10/26/2023 3:30 P.M.
3 minute read
As 2024 approaches, the future of the Consumer Financial Protection Bureau hangs in the balance, with a landmark Supreme Court decision and major rulemakings on the horizon. ACA International’s 2023 Fall Forum is offering a can’t-miss Main Stage session, “Intrigue and a Little Mystery—The Latest CFPB Insights & More,” Thursday, Nov. 9, that explores the complexities surrounding the CFPB and its impending future.
In this informative and impactful session, hosted by Leah Dempsey, shareholder at Brownstein Hyatt Farber Schreck LLP, Brian Johnson, managing director at Patomak Global Partners, and ACA’s CEO Scott Purcell, attendees will gain essential insights into the latest CFPB developments and what actions they can take to stay ahead of these dynamic changes.
“The CFPB has not slowed down even though their constitutional structure is in question,” noted Dempsey. “They are moving forward with a sweeping proposal to alter the FCRA, change the process for medical debt collection and reporting, and have taken other actions such as doubling their enforcement attorney staff. We will talk about what we expect next year and how this all, in conjunction with a Congress in a state of chaos, will impact your ability to operate.”
Key Takeaways from the Main Stage Session:
- Supreme Court’s Pivotal Decision: The CFPB’s fate hangs in the balance as a landmark Supreme Court decision looms on the constitutionality of the bureau’s funding structure. This decision is set to determine the future direction of the bureau.
- Fair Credit Reporting Act Rulemaking: One of the major rulemakings on the horizon surrounds the FCRA. This is expected to have a broad impact on data furnishers, particularly those operating in the medical debt space. The implications for businesses and consumers alike are substantial.
- Legal Challenges: Throughout the country, a series of legal decisions have been made that have halted the CFPB’s actions. Understanding these legal challenges and their consequences is crucial for anyone involved in the financial sector.
- Navigating Uncharted Territories: The interplay between Congress, the White House, and the courts is entering uncharted waters. Understanding how these forces interact and what they mean for the CFPB’s future is paramount.
“There are a lot of people willing to share things they hear on the news or read in the newspaper on free webinars,” Dempsey said. “But Scott [Purcell] and I are living and breathing what is happening in Congress and at the agencies on a daily basis on the ground in Washington. The focus on the ARM industry in D.C. has been building over the past several years. We continue to fight existential threats, often by linking arms with creditor trade partners. No one should be taking their eye off the ball right now in D.C. or be relying on second- or third-hand information when running their business.”
Dempsey added that what’s happening in Washington impacts all facets of a business, so this is a session that all accounts receivable management industry members should be attending.
Find this session on the Fall Forum events page.
More from Fall Forum:
This year’s convention will feature education and business solutions in more than 25 breakout sessions that will include specialty categories such as interactive best ideas and burning issues based on company size, small agency hot topics and continuing legal education.
Can’t-miss sessions & functions include:
- Revenue Accelerator: Unleashing Growth and Financial Success
- Health Care Revolution: Innovations in Managing Medical Debt
- Legal Mastery: Navigating the ARM Industry’s Complex Legal Landscape
- ACPAC Nightcap Social
- And more!
More information about sessions and ACPAC’s nightcap event are available on the Fall Forum website.
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