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Much has been written about how changes at the top of the Consumer Financial Protection Bureau are going to impact the accountsreceivablemanagement industry, but there are two other government regulators that also police debtcollectors — the Federal Communications Commission and the Federal Trade Commission.
Debt collection companies walk a fine line between business efficiency in their primary function (accountsreceivablemanagement), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. Government. Did you know that.
Like any industry, the debt collection and accountsreceivablemanagement industries have some bad apples. The latter are obviously people and organizations that you would want to avoid should your business need assistance with collecting on delinquent accounts. How can something like this happen?
DEBTCOLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.
Because only 26 states and the District of Columbia had publicly reported this data as of June 27, the actual number of people who lost coverage through the government’s main health insurance program for low-income people and people with certain disabilities, is undoubtedly much higher.
I also defended those clients against civil actions brought against them by consumers, the government, and each other. These compliance and defense litigation skills applied nicely to the accountsreceivablemanagement industry. . I’ve been representing debtcollectors ever since. Bureau , 140 S.
Senator Ted Cruz introduced the Financial Institution Customer Protection Act of 2021, which seeks to prohibit financial institutions from denying services to law-abiding businesses, such as companies in the accountsreceivablemanagement industry. For more information, click here.
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