As Shakespeare as soon as quipped “[m]isery acquaints a man with strange bedfellows.”
We’re definitely enduring our share of distress proper now, so maybe we shouldn’t be stunned that unusual alignments are presenting themselves right here in TCPAWorld.
Contemplate–simply yesterday the CFPB wrote a letter to the FCC encouraging it to permit banks and finance corporations to make extra automated calls to customers. I imply… wow.
Not solely that, however the client watchdog group truly underscored the significance of such messages in the course of the coronavirus pandemic and their effectiveness at spreading essential info:
A restricted variety of automated calls from monetary establishments to their clients alerting them to affords of forbearance; cost deferrals; charge waivers; extension or leisure of reimbursement phrases; loan modifications; and different packages, aid and sources referring to loans secured by properties or autos is an significance avenue to making sure that customers know the varied choices that could be out there to them.
The letter–which might be discovered right here— was despatched in an effort to help the ABA’s latest petition to increase the very restricted “emergency purposes” exemption that the FCC has acknowledged to this point concerning COVID19-related calls. (Underneath the FCC’s present rule just about nobody can benefit from the emergency exemption apart from well being employees and authorities officers.)
Its good to see a main regulator just like the CFPB popping out in help of permitting banks and finance corporations present well timed info to customers. Notably, nonetheless, the TCPA is only one roadblock to environment friendly help reaching of us in want– each the FCRA and the FDCPA additionally include a thicket of ticky-tack necessities which may snare corporations trying to present help to customers.
As we fastidiously watch CARES2 wander its method by way of the legislative course of we’ll maintain a cautious eye out for consumer-driven rule-loosening of this kind. Extra to come back.
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