BEDARD STARTS BREAKDOWN OF REGULATION F’S NEW VALIDATION REQUIREMENTS
- Of all the areas of Regulation F that collectors are grappling with, perhaps the most challenging is the new validation notice, which collectors will be able to use to communicate specific information to consumers about their unpaid debts. The model validation notice offers some important benefits to collectors, but comes with its own set of challenges. Outside of the provisions for communicating with consumers using email and text messaging, Regulation F’s most important updates to the Fair Debt Collection Practices Act could, in fact, be this new validation notice and the new definitions and requirements that go along with it. In this episode of “You Wanted a Rule, You Got a Rule,” John Bedard of Bedard Law Group starts walking through Section 1006.34, the Notice for Validation of Debts, which is the section covering the information that needs to be included in the validation notice.
JUDGE RULES COLLECTION SUIT DOES NOT WAIVE ARBITRATION CLAUSE
- Filing a collection lawsuit against an individual does not waive the arbitration clause in an underlying credit agreement, ruled a District Court judge in Texas, who has granted a defendant’s motion to compel arbitration in a Fair Debt Collection Practices Act case.
FORMER CFPB ASSOC. DIR., CAUGHT UP IN RACIST SCANDAL, CALLS OUT ‘LAWLESS’ BUREAU
- A former associate director at the Consumer Financial Protection Bureau, who came under a wave of criticism when racist comments he made under a pen name 15 years ago were uncovered, has published an article calling out a “lawless” CFPB and equating the new leadership at the regulator to the mob, “willing to use the strong arm of the government to get its way.”
FCC ISSUES PROPOSAL TO PROTECT ACCESS TO ROBOCALL MITIGATION DATABASE
- The Federal Communications Commission is seeking comments on a proposal to protect information submitted to its newly created Robocall Mitigation Database.
FIRST FINANCIAL ASSET MANAGEMENT CONTINUES ANNUAL SPONSORSHIP OF PROMISE686
- The FFAM360 Alliance of Companies announces its continued Corporate Sponsorship of Promise686, a non-profit charity dedicated to ending the cycle of foster care, and our annual participation in The 2021 Promise Race, uniting people across the country to work towards the common goal of making a difference in the lives of vulnerable children.
WORTH NOTING: The risk of children getting seriously ill from COVID-19 is as low as it is for the flu … The latest TikTok food trend: pesto eggs … McDonald’s is offering free iPhones to help attract new employees … Eight expressions that can make you sound insensitive at work … If you are looking for tips about how to encourage employees to get vaccinated … Managers are going to have it a lot harder once people return to the office … How to stay cool without air conditioning … Have you heard of “contagious unemployment”?
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