Clark Hill Member, Joann Needleman, Quoted in Law360,”CFPB Pitches New Rules For Debt Collection Industry”
PHILADELPHIA, PA – Clark Hill member, Joann Needleman, Leader of the firm's Consumer Financial Services Regulatory & Compliance Practice Group, was quoted in the article, “CFPB New Rules for Debt Collection Industry.” The article discusses how the Consumer Financial Protection Bureau (CFPB) is introducing a new package of proposed debt collection regulations. Their goal is to “clarify and modernize consumer communication and disclosure standards.”
Needleman comments, “That CFPB officials are willing to look at emails, texts and different ways to communicate with consumers is also very significant. They’re recognizing the statute is outdated and that communication methods have matured since 1977, and that’s a really important step.”
To read the full article (subscription required), click here.
Joann Needleman, Leader of the firm's Consumer Financial Services Regulatory & Compliance Practice Group, serves as a navigator to her clients seeking advice and guidance in the complex regulatory environment facing the financial services industry. She provides counsel, consultation, and litigation services to a wide array of financial institutions, law firms, credit reporting agencies, as well as venture capital firms looking to invest in the fin-tech space. A former member of the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board, Joann has been able to provide her clients with useful strategies in order to prepare for new areas of regulatory scrutiny. Often asked by clients to quickly assess a new policy statements or guidance issued by federal and state regulators, Joann is able to break down the issues and provide common sense solutions that ensure her clients’ policies, procedures and business operations are fully compliant with current regulatory expectations.
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