Collector - November 2020 - 35

BUSINESSOPERATIONS

"After election season, there is usually an
increase in legislative activity during the
lame-duck timeframe. However, if any
election results are not clear, the length
and productivity of the lame duck may
greatly vary."
because the 60-vote requirement would
impede moving their agenda forward. If
the filibuster is abolished, we will see an
unprecedented number of bills moving
through Congress and being signed into
law, which will present both challenges
and opportunities. However, based on
the debt collection-related legislation
we saw from Democrats in the House in
the 116th Congress, there are probably
more challenges than opportunities.
This would require a strong defensive
strategy and support from outside the
ARM industry to showcase how our
efforts also serve creditors and preserve
access to credit for consumers.
The recent passing of Supreme Court
Justice Ruth Bader Ginsburg and the
possibility of a more textualist-based
court under Judge Amy Coney Barrett
could ultimately impact the ARM
industry. As discussed, the court,
Congress and agencies may be forced
to review additional CFPB structural
questions not answered in Seila Law,
and other questions such as TCPA
statutory language. Judge Barrett's work
on the 7th Circuit paints a favorable
picture for ARM industry issues.

ACA'S STRATEGY: ELECTION
NIGHT SURPRISES OR
LEGAL CHALLENGES
ACA has been working on a detailed
strategy over the past several months to
prepare for all possible outcomes from the
election. On the morning of Nov. 4, we will
be ready to start implementing our strategy
and plan to outline it for attendees at ACA's
Virtual Fall Forum & Expo.

COLLECTOR 11.20

With new election law issues at play
because of COVID-19, such as an increase
in mail-in ballots, the results of the election
may not be available in certain races for
several weeks. After election season, there
is usually an increase in legislative activity
during the lame-duck timeframe. However,
if any election results are not clear, the length
and productivity of the lame duck may
greatly vary.

CFPB RULE SET TO FALL INTO
POLITICAL CROSSHAIRS
One extremely important issue for
ACA members is that the CFPB debt
collection final rule is set to be finalized
around the same time as the election results
come in. The U.S. Supreme Court's decision
in Seila Law, which allows the president to
remove the CFPB director for any reason,
means the election will have a major impact
on whether any final rule is, in fact, final.
Congress will also be closely scrutinizing
the CFPB debt collection rule, and the
reaction from Democrats and Republicans
may vary depending on how their party
fairs in the election.
Knowing that there may be some
significant uncertainty, and a lot of politics
in play toward the end of 2020, ACA will be
working hard to cut through the red tape
and make sure the ARM industry's interests
are represented.
ACA has a plan, and we look forward to
continuing to serve our members by leading
them through the next four years, no matter
what they may look like.
Leah Dempsey is ACA International's vice
president and senior counsel of federal advocacy.

35


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Collector - November 2020

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