Press Release: 2021-05-13

From the Web: ACA Members and CEO Mark Neeb Share Implications of Hunstein Case for the ARM Industry in American Banker

From the Web: ACA Members and CEO Mark Neeb Share Implications of Hunstein Case for the ARM Industry in American Banker



Article covers the impact of the 11th Circuit ruling for the industry as it compares to Consumer Financial Protection Bureau regulations and case law.



5/12/2021 2:30 PMPrinter friendly versionTwitter"FacebookLinkedIn



From the Web: ACA Members and CEO Mark Neeb Share Implications of Hunstein Case for the ARM Industry in American Banker



American Banker reporter Kate Berry presented accounts receivable management industry (ARM) input on the Hunstein v. Preferred Collection and Management Services Inc. case in a recent article, “Court Decision Muddies Debt Collector Communications .” A subscription may be required to view the article.



“The CFPB’s debt collection rule, and many other rules impacting the financial services marketplace, very clearly rely on the industry’s ability to use letter vendors and other types of vendors,” ACA International CEO Mark Neeb said in the article. “We believe the opinion conflicts with the letter and spirit of Regulation F, and with the spirit of similar consumer privacy rules.”



The 11th Circuit issued an opinion in Hunstein v. Preferred Collection and Management Services Inc. April 21, holding that an alleged violation of the third-party disclosure provision under 15 U.S.C. Section 1692c(b) of the Fair Debt Collection Practices Act results in an alleged concrete injury under Article III of the U.S. Constitution, ACA previously reported.



ACA members Richard Perr, co-managing partner at Kaufman Dolowich Voluck, Cheryl Kananowicz, president of financial services markets at RevSpring, and Joann Needleman, member with the Clark Hill PLC financial services regulatory and compliance practice, shared their input for the American Banker article, which also covered how the court’s decision balances with industry regulations and could impact future case law.  



Perr, Kananowicz and Michael Klutho, shareholder at Bassford Remele, recently discussed the new ruling from the 11th Circuit Court of Appeals on third-party disclosures and letter vendors on a Hot Topic webinar for ACA members.



Members can also read an update on where the Hunstein case stands and ACA’s ongoing response here: Hunstein: Everything You Need to Know.