ACA staff and Washington insiders will review how other factors such as the Nov. 3 election and state regulatory laws across the U.S. intersect with the CFPB’s final debt collection rule. Editor’s note: This article is available for members only.
10/8/2020 14:30
The Consumer Financial Protection Bureau is expected to release its long-awaited debt collection rule this year, and ACA International is ready. The release of the final rule signals the biggest development in the accounts receivable management (ARM) industry since the passage of the Fair Debt Collection Practices Act more than 40 years ago.
ACA’s panel of experts is standing by to quickly review the comprehensive rule and will be providing detailed analysis and compliance resources.
As part of that process, ACA is planning 11 daily ACA Huddle webinars complimentary for members sponsored by Hinshaw & Culberston LLP, Ontario Systems, Venable LLP, and RevSpring Inc. Registration is open now and the webinars—for ACA members only—will be held on consecutive weekdays within 24 to 48 hours after the rule is released.
Here is a look at the eighth and ninth in the series and featured speakers:
How the Rule Interacts with State Laws
In this webinar, Andrew Madden, ACA’s vice president, state government and unit affairs, and representatives of state regulators to be announced, will dive into how the CFPB’s federal rule compares to state regulatory laws already on the books. Madden leads the way in working with ACA’s state unit members and state regulators across the U.S., tracking and advocating for state legislation that impacts the ARM industry. Madden plays a key role in ensuring ACA’s state and federal advocacy align when needed and providing resources to members on how federal regulations coincide with state regulations they are required to follow. Jedd Bellman, president of the North America Collection Agency Regulators Association, and assistant commissioner of financial regulation for the Maryland Department of Labor, will also join the webinar.
Policy and Regulators
Once the CFPB’s final debt collection rule is released, several factors could still influence what comes next, including implementation and enforcement of the rule, as well as compliance with the rule.
In this webinar, speakers Patrick Russell, ACA’s federal advocacy director; Leah Dempsey, ACA’s vice president and senior counsel of federal advocacy; Sarah J. Auchterlonie, shareholder at Brownstein, Hyatt, Farber, and Schreck; Brian Johnson, partner at Alston & Bird in Washington, D.C., and the former deputy director of the CFPB, and Jonathan Pompan, partner at Venable LLP in Washington, D.C., will cover these factors and answer questions such as:
- How will the election impact the final decisions on the rule and the CFPB’s implementation and enforcement of the rule?
- What happens now from a policy and advocacy standpoint?
Russell joined ACA’s advocacy team in 2019 and since then has coordinated meetings with key ARM industry legislators and regulators in Washington, D.C., and advanced the work of ACA’s Political Action Committee (ACPAC) and grassroots advocacy efforts.
Johnson is a partner in Alston & Bird’s financial services and practices group and the consumer financial services team in Washington, D.C. Johnson started as the CFPB deputy director after serving in the position in an acting role since July 2018. Johnson first joined the bureau in December 2017 as senior adviser to the director and was named the principal policy director in April 2018. Prior to working at the CFPB, he spent over five years with the House Financial Services Committee in various capacities, including senior counsel, chief financial institutions counsel and policy director.
A well-known Washington, D.C., insider, Dempsey has led advocacy efforts for several industries and trade associations at the CFPB since the bureau’s inception. Dempsey has led ACA’s efforts with the CFPB through filing comments, leading meetings, and ensuring the association has had a seat at the table in regulatory discussions and those at the congressional level. Dempsey secured and helped prepare the witnesses representing ACA at a House Financial Services Committee hearing on the proposed debt collection rule last year, and has successfully led advocacy efforts surrounding numerous CFPB rules and related congressional initiatives in her career.
Auchterlonie was one of the witnesses at that hearing testifying on behalf of ACA and assisted with ACA’s comprehensive comments submitted to the CFPB on its proposed rule in September 2019.
Auchterlonie and her team provide full-service support to financial services companies and corporate users of financial service products and her multi-disciplinary financial services practice is informed by a decade of public service within banking regulators. She was also one of the first employees of the CFPB, where she served as an acting deputy enforcement director within the Office of Enforcement.
Pompan is co-chair of Venable LLP’s Consumer Financial Services Practice Group and CFPB Task Force. Pompan’s practice focuses on providing comprehensive legal advice and regulatory advocacy to a broad spectrum of clients, such as nonbank financial products and services providers, advertisers and marketers, and trade and professional associations, before the CFPB, the FTC, state attorneys general, and regulatory agencies.
Register for ACA’s upcoming webinars on the CFPB debt collection rule, available only for members, now. For CFPB and ACA advocacy updates, log in to your My ACA profile on acainternational.org to subscribe to ACA Daily and Member Alerts.
Related content from ACA International:
Member Alert: Join Us for 11 Webinars When the CFPB Releases its Landmark Debt Collection Rule
Speaker Highlight: CFPB Alum Joins Webinar Series on Pending Debt Collection Rule