Clark Hill’s Joann Needleman Quoted in American Banker’s Article “How far will CFPB go to modernize debt collection rules?”
PHILADELPHIA, PA - Joann Needleman, a leader of Clark Hill's consumer financial services regulatory group, said roughly 30,000 of the complaints filed with the CFPB against debt collectors in 2018 were sent to other regulators, typically because they involved nonfinancial products such as cellphones or internet service providers.
Joann states, "If you look at the total number of complaints sent to debt collection companies [regarding communications tactics], the amount is 5,500," she said. "Part of an association's defense would be to point to the data and say they're changing the whole industry based on 5,500 complaints. It's going to be hard for them to approve that."
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