Politics at PAIR Finance: Former Minister Brigitte Zypries in the PAIR Talk

Last week we had the pleasure of hosting a new edition of the PAIR Academy: a morning of insights and networking at our Berlin headquarters at the Zoologischer Garten. Here are the highlights from this inspiring event.

Legal developments in debt collection: The PAIR Talk with Brigitte Zypries

Our event kicked off with exclusive insights from the world of politics: a live interview with Brigitte Zypries, former Federal Minister of Justice and Federal Minister of Economics, and Daniela Gaub, General Counsel at PAIR Finance. After a journey back in time to the special history of German debt collection law, Zypries talked about her time in the Federal Cabinet before the era of social media and in the beginning without an smartphone. She described not only the challenges of today’s politics, but also the intensive legislative process from the drafting of a bill to its publication by the Federal President. Brigitte Zypries illustrated the challenge of developing balanced laws with the saying « If both sides criticise me, I’ve done everything right ». 

Back to the future: The discussion also highlighted the need for financial education. Zypries argued for more concrete practice and education in early education, e.g. in schools. Working groups could be a good way to teach pupils about everyday questions such as « How do I sign a contract? » or « What do I do with my piggy bank?” The audience pointed out that young teachers have an important role to play here. They could authentically teach digital financial literacy in the age of TikTok.

Updates to the BDSG: What does the EU regulation mean for companies?

Sabrina Ermshaus, Data Privacy & Compliance Counsel at PAIR Finance, was the next speaker. She brought us up to date on the planned changes to the German Data Protection Act (BDSG). Background: The ECJ made two important decisions in 2023: Consumers cannot be denied credit solely or substantially on the basis of scoring. In addition, the period of storage by credit agencies for residual debt discharges has been limited. This data may only be stored for the same length of time as is usual for insolvency notices, i.e. six months.

In her presentation on the planned changes to the BDSG, Sabrina emphasised that transparency and fairness are at the heart of the new regulations, values that have been central to PAIR Finance’s DNA since our founding – if you want to find out more, click here. We were given an exciting insight into how PAIR Finance is already meeting the high requirements today.

Discussion and networking with a view: Focus on your questions

During the intensive presentations there was time for questions and discussions from the guests. In a relaxed atmosphere and with a fantastic view of the Berlin skyline, participants were able to talk directly to the experts, discuss individual challenges and exchange valuable tips. These sessions are always a highlight as they offer the opportunity to benefit directly from the experience and knowledge of others. 

Doing good: Donating to the Arche Berlin

And to round things off, a great gesture: Instead of a fee for the prominent speaker, PAIR Finance donated EUR 1,500 to the Arche Berlin in agreement with Brigitte Zypries. The Arche Berlin supports children from socially disadvantaged backgrounds. We have been a partner of this important initiative for three years and are regularly involved with donations of money and goods or a social day. 

Our conclusion: We had a great time gaining new insights into current issues and discussing them with our business customers. We are already looking forward to the next PAIR Academy.