Archives for February 2015

NY State Dept of Financial Services Releases Debt Collection FAQ

February 21, 2015 By admin Leave a Comment

UPDATED: Friday, February 20, 12:23pm.

In November of 2014, the Superintendent of Financial Services adopted 23 NYCRR 1, a regulation to reform debt collection practices by members of the debt industry. The new rules take effect on March 3, 2015.

In response to requests for clarification submitted by a range of industry groups, the New York State Department of Financial Services (the “Department”) has posted answers to a number of frequently asked questions.

The clarification was widely applauded by the ARM industry.

Robert Föehl, vice president and general counsel for ACA International, said, “ACA is appreciative of the department’s willingness to provide this clarification. We hope it will assist ACA members and industry participants to better understand their compliance obligations.”

Stephanie Eidelman, CEO of insideARM.com and member of the Executive Steering Committee of the Consumer Relations Consortium (CRC), noted that the CRC had submitted its own set of questions to DFS for clarification. “Fortunately, some of the issues we asked about were covered in the FAQ release,” said Eidelman. “There is still far more clarification needed with these new rules, however.”

To help with that clarification, DBA International is hosting a symposium in New York City next Thursday that will specifically address the new rules. DFS Executive Deputy Superintendent Joy Feigenbaum is slated to give a presentation on the new rules and sit on a panel with other New York regulators for a Q&A session for attendees. insideARM.com will be attending the event next week, so be sure to stay on the lookout for our report.

At present, the following 16 questions appear with answers; however, the site will no doubt be updated with other questions/answers:

Does 23 NYCRR 1 apply to the collection of debts by original creditors?
Is a debt originated by a seller of a good or service sold directly to the consumer subject to 23 NYCRR 1?
Does 23 NYCRR 1 apply to debts that have not been charged-off?
Does 23 NYCRR 1 apply to debt servicers, including companies that service student loans, home equity loans or mortgages?
Does 23 NYCRR 1 apply to New York based debt collectors collecting debts from persons who reside outside of New York?
By limiting the requirement in 23 NYCRR 1.5 to payment arrangements reached “pursuant to Section 1.5 of this Part” does this section only require debt collectors to provide written confirmation of payment arrangements entered into after the enactment of the DFS rules?
Do debt collectors need to provide a full copy of the original payment agreement and copies of all payment statements in order to comply with the requirements of 23 NYCRR 1.4(c)(4)?
What happens if the debt collector cannot substantiate the debt within 60 days but does so thereafter?
Would providing consumers a monthly account statement fulfill the requirements of 23 NYCRR 1.5(b)?
After a legal action has commenced, does a collection attorney need to comply with rules such as 23 NYCRR 1.5(b), which requires sending quarterly statements during scheduled payments?
Does 23 NYCRR 1 apply to collection of a money judgment?
The Department and the New York City Department of Consumer Affairs (“NYCDCA”) both require disclosures concerning the statute of limitations. However, the notices differ in some respects. If the debt collector is subject to the NYCDCA rules, are both disclosures required?
The Department and the NYCDCA rules both specify information to be sent to a consumer within five days of the initial communication with a consumer in connection with the collection of any debt. If the debt collector is subject to the NYCDCA rules, are both disclosures required when collecting a debt?
If the debt collector provides the notice required in 23 NYCRR 1.3 before accepting payment on a debt where the statute of limitations has expired, must the debt collector provide this notice in every subsequent communication or before accepting every subsequent payment?
If a debt collector treats a dispute, either oral or written, as a request for substantiation, must the debt collector inform the consumer of the method by which the consumer may request substantiation?
If a debt collector has provided a consumer with substantiation of an alleged debt, does the debt collector need to provide information about how to request substantiation after any subsequent disputes about the debt?

NY State Dept of Financial Services Releases Debt Collection FAQ
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Accounts Receivable Management

Filed Under: News

ABC-Amega Realigns Credit Services Division

February 21, 2015 By admin Leave a Comment

ABC-Amega, a global commercial receivable management firm, recently made strategic changes to their credit services division naming a new Divisional Vice President of Credit Services and a Divisional Vice President of Member Services.

Robert Gagliardi has been promoted to the role of Divisional Vice President of Credit Services, a role which will entail overseeing the strategic development and growth of ABC-Amega’s Credit interchange groups and credit-related offerings.

Paul Grolemund has been named as the new Divisional Vice President of Member Services. In this role, Paul will be the main point of contact for all service and membership-related activities.

ABC-Amega has been managing credit groups since 1965, offering a complete range of credit information services geared to the specific needs of credit managers across various industries. Members of ABC-Amega-managed industry credit groups access credit information in real-time – making informed decisions quickly and easily, minimizing credit risk, and saving both time and money.

ABC-Amega, recently named one of the Best Places to Work in Collections, has been providing domestic and international commercial receivables management for over 85 years. The company’s mission is to provide commercial credit and financial professionals with outstanding and flexible solutions for improving credit, cash flow, and customer retention throughout the world.

ABC-Amega Inc. provides a wide range of services including global, third-party commercial debt collection, first-party accounts receivables outsourcing (SoftCall®), credit industry group management, and industry education resources. For additional information, please contact info@abc-amega.com or visit www.abc-amega.com.

ABC-Amega Realigns Credit Services Division
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Accounts Receivable Management

Filed Under: News

Dennis Hammond Honored with Bud Reitzel Award, Debt Buying Industry’s Highest Recognition

February 21, 2015 By admin Leave a Comment

Founder of DBA International and tireless advocate for the debt buying industry, Dennis Hammond was awarded the coveted Bud Reitzel Lifetime Commitment Award at the 18^th Annual DBA International Conference in Las Vegas.

As a dedicated mentor and energetic leader, Bud Reitzel brought integrity, innovative thinking and passion to the industry he helped create. Following his passing in 2012, DBA International established an award that honors an individual who shares Reitzel’s commitment to honesty, doing what was right, respecting the consumer and treating everyone fairly.

Like Reitzel, Hammond has been zealous in promoting the industry, providing training and compliance measures and educating regulators about the positive role debt buying plays in the overall economy. Along with his wife Judy, Hammond took a tremendous risk in building the association and creating “the conference to attend.”

The risk paid off leading to tremendous success for the association and creating a forum for speakers to identify current challenges, addressing issues that specifically affect debt buying companies and delivering unparalleled networking and business development opportunities.

“Having leaders and mentors of Dennis Hammond’s caliber, continues to spur passion about the organization and the tremendous good it provides the overall industry,” said DBA President Kaye Dreifuerst. “DBA International would not be what it is today if it were not for Dennis’s passionate leadership skills, tight rein on the DBA International image and his hard work.”

Hammond is the second recipient of this distinguished award.

About DBA International

DBA International is the nonprofit trade association that represents the interests of companies that acquire accounts receivable portfolios, both performing and distressed assets, on the secondary market. DBA provides a wide array of education programs to ensure members are up-to-date on all state and federal laws when working with consumers. DBA serves as the voice of the debt buying industry, establishing best practices and representing members before Federal and State agencies and in the courts. DBA maintains a code of ethics and a national certification program to promote uniform industry standards.

Dennis Hammond Honored with Bud Reitzel Award, Debt Buying Industry’s Highest Recognition
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Accounts Receivable Management

Filed Under: News

Recent Class Action Settlement Shows that FDCPA Litigation is Kind of a Game

February 21, 2015 By admin Leave a Comment

Remember that story from a couple of days ago where a judge famously noted that the FDCPA “is not a game, and its purpose is not to provide a business opportunity” to plaintiff attorneys? It was a great story, and the judge really took issue with the cabal that has arisen that almost openly takes advantage of the strict liability nature of the FDCPA.

But as much as the ARM industry would love to believe the sentiments expressed by that judge were common, anyone who has been through an FDCPA case knows that it’s still a big game. And it’s a game that is nearly impossible for collectors to win.

Two weeks ago, a judge in Pennsylvania granted final approval to an FDCPA class action settlement that, like any other game, had winners and losers. It would be easy to assume that the collection agency was the loser (they were) and that the consumers were the winners. But that would be forgetting a very important player: the plaintiffs’ attorneys.

In this case, a collection agency sent a demand letter that contained everything the FDCPA says it should contain. Unfortunately for the agency, the validation notice was not in the correct place. Here’s what the judge had to say on the matter:

“While the Subject Letter did include language outlining the recipients’ validations rights, this language was printed on the reverse side of the Subject Letter and was inconspicuous and therefore in violation of the FDCPA.”

The collection agency continued to fight the claim while the plaintiffs’ attorneys built a class action. They found 229 similarly situated consumers and moved to certify a class, which the judge granted. After citing a desire to end litigation, the collection agency decided to settle.

Because of the technical nature of the violation, no damages could be alleged. In fact, the judge wrote, “imagining actual damages from the alleged statutory violation in this case takes a creative mind.” So the settlement would be strictly statutory in nature: $1,000 to the lead plaintiff. That plaintiff also received an additional $1,000 for their role leading the class.

The rest of the class will receive $100 each, for a total of $22,900. It’s not much money, but then, the class members didn’t have to do much to receive it. The lead plaintiff in the case also received $100, bringing her total to $2,100. So now the agency owed around $24,000 to consumers exposed to the technical violation.

But there was one more item: plaintiffs’ attorneys’ costs and fees. That is going to cost the agency north of $44,000. Around 230 people, “aggrieved” by the placement of compliant language on the collection letter, will receive $24,000, and two attorneys will receive $44,000.

And that’s the game Judge Cogan discussed in the story earlier this week. Ferreting out technical violations for a big payday. Of course, it’s not consumers doing this. It’s a “handful of the same lawyers,” as Cogan put it that are driving the litigation, because they know they will get paid. Even Cogan concedes, “a technical violation of the statute is a violation” and that “this technical use of the statute for economic gain violates no law or ethical precept.”

It’s not all doom and gloom, though. There is a new referee in the game: the CFPB. While many in the industry view the Bureau as an adversarial force, there is great benefit in embracing the CFPB’s role in active supervision. This way, technical violations can be identified before an attorney has a chance to build a class action. So don’t fight the change; embrace it.

Recent Class Action Settlement Shows that FDCPA Litigation is Kind of a Game
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Accounts Receivable Management

Filed Under: News

Federal Judge Issues Positive TCPA Ruling; Potential Capacity in ATDS Not Enough for Violation

February 14, 2015 By admin Leave a Comment

A federal district judge in California last week granted summary judgment to the defendant in a TCPA case that hinged on whether the company was using an “automatic telephone dialing system” (ATDS) under the statute. While not an ARM industry case, the ruling explores present vs. potential capacity in an ATDS.

The case, Glauser v. GroupMe, involved the use of a group messaging application to send out many text messages to separate cell numbers, GroupMe’s core business offering. The application allows users to create groups and to transmit texts to all members of that group simultaneously.

On or about April 23, 2011, plaintiff Brian Glauser received a text message that read: “Hi Brian Glauser, it’s Mike L. Welcome to GroupMe! I just added you to “Poker” w/Richard L. Text back to join the conversation.” He then received another welcome text from the GroupMe application.

Glauser received several texts from other members of the group, including ones discussing plans for scheduling a poker game. He never responded to any of the text messages.

Glauser then filed suit asserting a claim under the TCPA against GroupMe. The plaintiff said that the welcome texts sent by GroupMe were a violation. On January 27, 2012, the case was stayed pending FCC decisions on three issues: (1) the definition of an “automatic telephone dialing system” under the TCPA, (2) whether prior express consent could be received through an intermediary, and (3) the scope of the TCPA’s “common carrier” exemption.

The court lifted the stay on March 27, 2014, after receiving no indication that any FCC action was forthcoming.

GroupMe moved for summary judgment on the grounds that the platform it used to send text messages does not qualify as an ATDS under the TCPA because it lacks the capacity to function as an ATDS. Glauser countered that a device that has the “potential capacity” to function as an ATDS qualifies as an ATDS under the TCPA, even if the device was not actually used as an ATDS in sending the message at issue.

District Judge Phyllis J. Hamilton, in the Northern District of California, held that there was a distinction between the issues of “present vs. potential capacity” and “capacity vs. actual use.”

Finding that GroupMe’s system did not have the capacity to send the messages, “without human intervention,” she wrote “the relevant inquiry under the TCPA is whether a defendant’s equipment has the present capacity to perform autodialing functions, even if those functions were not actually used.”

Hamilton granted summary judgment in favor of GroupMe.

Federal Judge Issues Positive TCPA Ruling; Potential Capacity in ATDS Not Enough for Violation
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Accounts Receivable Management

Filed Under: News

Kaulkin Ginsberg Gears up for Spring 2015 Research Fellows Program

February 14, 2015 By admin Leave a Comment

Kaulkin Ginsberg, the leading consultancy and M&A advisory firm focused on the accounts receivable management (ARM) industry, begins the fourth semester of its Research Fellows Program in conjunction with the University of Maryland, College Park’s Department of Economics undergraduate studies program on Monday, Feb. 16. Fellows will focus their research on emerging market segments and consumer credit opportunities.

The ARM industry has experienced significant changes since the onset of the Great Recession. Executives are challenged to find the highest level of information to make informed business decisions. Through research obtained during this 10-week fellowship, Kaulkin Ginsberg strives to provide leaders with the materials they need. Each semester, 16 students are assembled into groups to gather information related to specific aspects of the ARM industry. The research they compile has been featured in Kaulkin Ginsberg’s authoritative midyear reviews and reports, which are then made available online. The markets these fellows have analyzed include health care, student loans, government, cable, financial services and telecommunications.

Participants are carefully selected by the director of Undergraduate Economics Studies for the University of Maryland, Dr. Cindy Clement. “Students today understand that real-world experience is a necessary complement to their academic classwork, but internships are often hard to find or squeeze into their schedules,” Dr. Clement said. “Unlike some internships, all time spent on the Research Fellows Program is content-intensive – no clerical work, no commuting time, no fetching coffee. Students really appreciate the opportunity to apply their skills and knowledge and get detailed feedback on their work.”

Mike Ginsberg, President and CEO of Kaulkin Ginsberg, said, “Over the past two years, our on-campus program has proven beneficial for students, faculty and the executives of accounts receivable management firms. I could not be more pleased with the results of this initiative.”

Michael Thomas, an associate for Kaulkin Ginsberg, participated in the fellows program during the spring 2014 semester. He is the first full-time hire directly associated with the program, and he now acts as its supervisor.

“The Research Fellows Program is designed to provide students with the opportunity to engage in applied economic research, develop teamwork and project management skills, contribute to ARM industry research, and improve their presentation and business writing skills,” Mr. Thomas said. “I am looking forward to working with my fellow economics majors at the University of Maryland and helping them take that next step as they prepare to graduate and pursue their professional careers.”

Previous fellows said participating in the fellowship program was well worth the added work to their course load because of its unique, hands-on approach to research.

“It was an opportunity to test uncharted waters,” Lindsay Kermisch, ’14, said. “The results were worth it – a tangible document that went through professional review by our mentor’s company. The process itself was just as beneficial, if not more, than the end product. I learned how to research through a practical application and work together cohesively with an international group of then-strangers.” Ms. Kermisch is a contract specialist and acquisitions professional at the U.S. Department of State, and she will begin holding a presentation for fellows on government careers for economics majors later this semester.

Others said the experience benefitted them during their job hunts after graduation.

“My findings fascinated my interviewers, who are my now my coworkers,” Jared Lese, ’14, said. He works for Israel Discount Bank of New York. “The interview instantly morphed into a friendly discussion where I became the leader. The Fellows Program was extremely vital to my post-graduate success.”

About Kaulkin Ginsberg

Since 1991, Kaulkin Ginsberg has provided value-added strategic advisory services tailored specifically to the accounts receivable management industry and other outsourced business services (OBS) companies. The firm’s client-centric approach covers almost every stage of a company’s lifecycle. For more about Kaulkin Ginsberg, please visit www.kaulkin.com.

About The University of Maryland’s Department of Economics

The University of Maryland’s Department of Economics is ranked in the top 20 economics programs in the country in the most recent National Academy of Sciences study. The department has about 40 faculty members. The size and diversity of the faculty permits study in virtually every major theoretical and applied area of economics, including advanced macro and micro, comparative institutional economics, econometrics, economic development, economic history, environmental and natural resource economics, industrial organization, international economics, labor economics, political economy and public economics.

Kaulkin Ginsberg Gears up for Spring 2015 Research Fellows Program
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Accounts Receivable Management

Filed Under: News

IACC’s New Initiatives and Website Help Members Educate Others about the Commercial Collection Industry

February 14, 2015 By admin Leave a Comment

The International Association of Commercial Collectors (IACC) has launched a series of communication initiatives aimed at helping its members market themselves while also raising awareness that IACC membership denotes adherence to high ethical and professional standards.

The IACC Marketing Toolkit has been developed to help members educate their clients and prospective clients about the expertise and insights they possess as a result of their IACC membership.

The toolkit includes: promotional brochures, website FAQs on how to select a commercial collector, suggested LinkedIn copy, and a complete PowerPoint presentation on when to hire a commercial collection professional. Two customizable press releases, along with guidelines on working with the press, are provided for members who wish to secure more positive publicity.

“We believe this new members-only offering will provide a leg up to members who do not have the time or resources to create their own marketing campaign,” said IACC President Tom Brenan. “All the work has been done for them in the toolkit; they can use it with ease.”

To support heightened utilization of the IACC website as a source for information and education, it was revamped in late January at www.commercialcollector.com. The new, user-friendly website provides easy access to information about upcoming professional development opportunities, informational products, members-only resources and association news.

The new website also serves as an essential resource to creditors. The IACC member directory provides a well-organized list of commercial collection agencies that meet IACC’s stringent ethical and professional standards. An informative brochure, Commercial Collection Guidelines for Credit Grantors, is also available on the website.

Members of the media searching for experts on commercial collection issues can now arrange interviews with a simple phone call, thanks to IACC’s creation of a Media Expert Rapid Response program. In addition, IACC has been reaching out directly to media outlets with commercial collection success stories.

“Stepping up our marketing efforts in 2015 is a win-win for both IACC and our members. I am excited about this new direction and know it will bring greater attention to IACC’s contributions to the commercial collection industry,” said Brenan.

The International Association of Commercial Collectors, Inc. (IACC) is an international trade association comprised of more than 300 commercial collection agencies, attorneys, law lists and vendors. With members throughout the U.S. and in 25 international countries, IACC is the largest organization of commercial collection specialists in the world. The IACC contributes to the growth and profitability of its members by delivering essential educational and professional tools and services in a highly collaborative and participatory environment. For more information, visit www.commercialcollector.com

IACC’s New Initiatives and Website Help Members Educate Others about the Commercial Collection Industry
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Accounts Receivable Management

Filed Under: News

The Healthcare Collections Crystal Ball (That No One’s Looking At)

February 14, 2015 By admin Leave a Comment

Rozanne Andersen

On December 11, 2014, the CFPB conducted a field hearing in Oklahoma City on medical debt collection practices and the relationship between medical debt collection practices and consumer credit reporting in general. From my vantage point, the meeting was nothing short of a crystal ball regarding the future of medical debt collection. But for reasons that escape me, it is a one that has gone largely unnoticed by the industry.

Let’s review some of the hearing’s most important takeaways:

CFPB Director Richard Cordray once again shared the Bureau’s position that problems with debt collection are magnified when the debt collector reports a debt as a collections trade line to the national credit reporting companies. He characterized a collections trade line as a black mark – more like a scarlet letter − on any consumer or patient’s credit report, and explained how having a reported collections item or a severe delinquency can increase that patient or consumer’s interest rate, and affect their ability to borrow money. He further highlighted some particularly startling statistics from the CFPB’s recent study on credit reporting practices with regard to medical debt:

One in five consumers with a credit report has a medical collections item on their credit
report
More than 1.3 billion trade lines are actively reported and about half of the overall debt
collection trade lines are from medical bills
Fifteen million consumers have medical debt collections items as the only collections
items on their credit reports and many of them have no other seriously delinquent accounts

Cordray’s prepared remarks should be a wakeup call to any medical debt collection agency owner. It should be noted first that the Director opened the hearing reiterating how debt collection practices have long been a source of frustration for many consumers, making it clear debt collection continues to be a top source of consumer complaints to the Consumer Bureau and to its sister agency, the Federal Trade Commission.

According to Cordray, those sentiments have resulted in a major new development: He explained how as part of the CFPB’s ongoing effort to improve the nation’s credit reporting system, the Bureau will now require the largest credit reporting companies to provide it with regular, standardized accuracy reports, specifying the number of times consumers dispute information on their credit reports during a reporting period, along with furnishers with the most disputes, industries with the most disputes, and furnishers with particularly high dispute rates relative to their peers.

Read the rest of this post on Ontario Systems’ blog.

The Healthcare Collections Crystal Ball (That No One’s Looking At)
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Accounts Receivable Management

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Ohio AG Sues Debt Collector for Impersonating Government Offices with Caller ID Spoofing

February 14, 2015 By admin Leave a Comment

Ohio Attorney General Mike DeWine announced Wednesday that his office has filed a lawsuit against a Buffalo, N.Y. collection agency with accusations including the impersonation of Ohio government agencies and threats of arrest. The firm allegedly spoofed caller IDs to make it appear the calls were coming from real government office numbers.

DeWine’s lawsuit accuses Nationwide Recovery Group LLC and its owner, Michael P. McCarthy, of violating the Ohio Consumer Sales Practices Act and the Fair Debt Collection Practices Act (FDCPA).

According to the AG’s lawsuit, collectors from Nationwide impersonated various government and law enforcement agencies, including the clerk of courts’ offices in several Ohio counties, in addition to county sheriff deputies and a court investigator. A court clerk from one county started the investigation when she received a report from a consumer after a threatening call purporting to come from that clerk’s office.

An investigation by DeWine’s office found that Nationwide Recovery Group spoofed consumers’ caller IDs to falsely display the real phone numbers of government agencies, including the clerk of courts’ number. It also threatened consumers with arrest or legal action if they failed to pay a debt immediately, using phrases like “theft of merchandise” or “theft of services.”

While operating in Ohio, the business also allegedly used the fictitious names Gallagher Mediation and the Law Firm of John McGuire to mislead consumers. The lawsuit alleges that McCarthy himself used names such as John McGuire or Jason Gallagher on calls with consumers.

“By law, debt collectors cannot threaten or mislead consumers,” DeWine said. “In this case, the business not only threatened consumers with legal action and arrest, it also pretended to be legitimate Ohio government agencies and spoofed caller IDs to further mislead consumers. Ohioans deserve better than that, and we are taking action to hold this debt collector accountable.”

Filed in the Montgomery County (Ohio) Common Pleas Court, the DeWine’s lawsuit charges the business and its owner with threatening to take legal action that could not legally be taken, failing to disclose a caller’s identity, blocking or spoofing telephone numbers to mislead consumers, and making false and misleading representations. It seeks permanent injunctive relief as well as civil penalties and restitution for consumers.

Ohio AG Sues Debt Collector for Impersonating Government Offices with Caller ID Spoofing
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Accounts Receivable Management

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DBA International Installs New President, Elects Other Officers

February 14, 2015 By admin Leave a Comment

DBA International elected Kaye Dreifuerst as president during the association’s 18th Annual Conference. Dreifuerst begins her term on the heels of a very successful conference where the overall mood in the industry appeared to be shifting to a more balanced and optimistic view of the future.

An industry veteran with over 20 years’ experience in the collection and debt purchasing industry, Dreifuerst began her debt purchasing/selling career on the issuer side where she was responsible for Asset Sales and Collection Operations. She moved to the debt purchasing side in 2002 and is currently President of Security Credit Services based in Oxford, MS where she oversees’ acquisitions and the collection operation. She also plays a key role in establishing alternative capital sources which has significantly improved the profitability of the company.

According to Executive Director Jan Stieger, in addition to her vast industry expertise, Dreifuerst has provided valuable service to the industry, serving on the board of directors since 2009 and working on myriad committees over the years.

“Dreifuerst has recently co-chaired both the federal and state legislative committees where she has advocated for uniform, consumer-oriented, best practices that are transforming the collections industry,” said Stieger. “Assisting her company in achieving their Certified Professional Receivables Company (CPRC) designation, Dreifuerst appreciates DBA International’s responsibility for ensuring that debt buying companies large and small are abreast of laws and regulations and contribute to the discussion on new public policy.”

Other officers elected at the conference include:

President Elect – Trish Baxter, Recovery Management Systems Corp.
Treasurer – Irwin Kirschenbaum, KMT Group, LLC
Secretary –Todd Lansky, Resurgence Capital, LLC
Past President – Bryan Faliero, Sherman Financial Group
Director – Brian Fair, Fair Resolutions, Inc.
Director – Marian Sangalang, The Bureaus, Inc.
Director – Phil Stenger, Capital Alliance Financial, LLC

Additionally, two will continue as Board Directors: Mark Naiman, Absolute Resolutions Corp., and David Paris, Velocity Portfolio Group.

Recognizing the value that debt buying companies play in restoring economic stability and viability, Dreifuerst takes the helm whilst the receivables management industry is continuing to work with industry leaders and regulators to establish uniform standards, while raising the level of professionalism and consumer protection.

“Attending the annual conference I was able to notice the shift in overall mood as members are exploring new markets and opportunities, whilst maintaining their commitment to treating all customers with respect,” said Dreifuerst. “As demonstrated by the upcoming DBA International Symposium in New York City, it’s nice to have a respected voice at the table and see the regulatory community actively work with our industry to ensure we all understand the intent and implementation of new rules and regulations.”

DBA International (DBA) is the nonprofit trade association that represents the interests of more than 550 companies that purchase performing and nonperforming receivables on the secondary market. DBA’s Receivables Management Certification Program and its Code of Ethics set the “gold standard” within the receivables industry due to its rigorous uniform industry standards of best practice which focus on the protection of the consumer. DBA provides its members with extensive networking, educational, and business development opportunities in asset classes that span numerous industries. DBA continually sets the standard in the receivables management industry through its highly effective grassroots advocacy, conferences, committees, taskforces, publications, webinars, teleconferences, and breaking news alerts. Founded in 1997, DBA International is headquartered in Sacramento, California.

DBA International Installs New President, Elects Other Officers
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Accounts Receivable Management

Filed Under: News