Clark Hill Attorney Joann Needleman Quoted in Bloomberg Law
Clark Hill Banking & Financial Services attorney Joann Needleman was recently quoted in Bloomberg Law on the Consumer Financial Protection Bureau’s final debt collection rule, which was released on Friday, Oct. 30. The CFPB’s final debt collection rule didn’t include a “meaningful attorney involvement” safe harbor, which lists legal steps attorneys must meaningfully undertake before they can legally pursue debtors. The provision, which was included in the original proposal, would have shielded attorneys from CFPB enforcement actions and private litigation if they followed procedures for pleadings, written motions, and other documents in preparing debt collection cases.
“You might have won that battle, but you might have lost the long-term war,” said Needleman, who is also the Leader of the firm's Consumer Financial Services Regulatory & Compliance group.
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Needleman 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.