Making Our Voices Heard on Capitol Hill

I applaud the efforts of the major associations in the US Accounts Receivable Management industry, who jointly solicited Congress to keep the FTC as the regulatory authority for enforcing FDCPA and maintaining oversight of debt collection and debt purchase ("Accounts Receivables Management Industry Calls On Congress to Keep FTC As Exclusive Regulator," March 19). The effectiveness of any campaign directed toward Capitol Hill significantly improves when our industry’s largest associations combine their resources and present as a unified front.

Member collection agencies, collection law firms and debt buyers all need to do their part by actively participating in association meetings to make sure their individual opinions are heard, meeting with their Congressmen and House Representatives directly, and contributing financially whenever possible.

I also strongly encourage executives of these ARM companies to meet with their largest clients to apprise them of what is being proposed and the effects it may have on their recovery efforts and liquidation results. If enough recovery managers of large and mid size banks, credit unions, telecommunications companies, state and local government, the US Department of Education, hospitals, and other credit grantors are informed of these efforts, some may get behind the cause and solicit their own associations to participate and contribute. The power of associations such as the ABA, HFMA and the TIA are significant and could dramatically influence the decisions that regulatory authorities make toward the ARM industry.