ACA Advocates for Reform to Legislation Impacting Student Borrowing Industry

Letter to House and Senate committees calls for legislation to ensure the ability to communicate with consumers, especially in times of crisis, remains intact.

6/18/2020 2:00 PM

AdvocacyNewsCOVID-19
ACA Advocates for Reform to Legislation Impacting Student Borrowing Industry

ACA International is working to ensure the lines of communication between accounts receivable management professionals and consumers remain open, including through advocacy on the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which passed the U.S. House of Representatives.

In a letter to members of Congress including U.S. Sens. Lamar Alexander, R-Tenn., Patty Murray, D-Wash., from the Senate Health, Education, Labor and Pensions Committee, and U.S. Reps. Bobby Scott, D-Va., and Virginia Foxx, R-N.C., from the House Committee on Education and Labor, ACA CEO Mark Neeb outlined the benefits of collectors communicating with consumers, especially on student loans, in times of crisis.

“In response to the COVID-19 pandemic, we have seen sweeping legislation in several areas including in the student borrowing industry. We applaud Congress for taking several actions that have been essential for protecting consumers and businesses throughout the country during the height of the pandemic. As the country begins to move forward, we urge Congress to consider the benefits ACA members provide in their work with student borrowers, as well as the value they provide to the broader economy by keeping goods and services affordable for all consumers,” Neeb said.

ACA members continue to receive thousands of calls per day from distressed consumers who are seeking guidance to restore their credit and reap the other benefits of rehabilitation programs.

“Currently, outreach attempts to a significant population of consumers including those with Department of Education loans are limited. As a result, this population may not be afforded the same benefits simply because they are not aware of the opportunities available to them.

Unfortunately, the HEROES Act proposes additional limitations on communications.

“As Congress works towards additional policy solutions to address challenges related to COVID-19, we ask that it further consider how consumers, creditors, institutions of higher education, as well as the collection agencies serving them, and employing thousands of Americans throughout the country, will be impacted by overbroad efforts. Currently thousands of employees working in the student borrowing industry have been laid off, and the proposals in the HEROES Act would certainly lead to additional job loss for many Americans,” Neeb said. “Limiting this part of the economy, particularly for those who have not been impacted by COVID-19, does not make sense, and alternatively harms many other consumers and constituents.”

Learn more about the HEROES Act and ACA’s advocacy, including a summary of ARM industry thoughts on the bill, here.

For more information on how the ACA Licensing staff can assist with your licensing needs, please contact us at Licensing@acainternational.org  or call (952) 926-6547.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

ACA Advocates for Reform to Legislation Impacting Student Borrowing Industry

ACA International is working to ensure the lines of communication between accounts receivable management professionals and consumers remain open, including through advocacy on the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which passed the U.S. House of Representatives.

In a letter to members of Congress including U.S. Sens. Lamar Alexander, R-Tenn., Patty Murray, D-Wash., from the Senate Health, Education, Labor and Pensions Committee, and U.S. Reps. Bobby Scott, D-Va., and Virginia Foxx, R-N.C., from the House Committee on Education and Labor, ACA CEO Mark Neeb outlined the benefits of collectors communicating with consumers, especially on student loans, in times of crisis.

“In response to the COVID-19 pandemic, we have seen sweeping legislation in several areas including in the student borrowing industry. We applaud Congress for taking several actions that have been essential for protecting consumers and businesses throughout the country during the height of the pandemic. As the country begins to move forward, we urge Congress to consider the benefits ACA members provide in their work with student borrowers, as well as the value they provide to the broader economy by keeping goods and services affordable for all consumers,” Neeb said.

ACA members continue to receive thousands of calls per day from distressed consumers who are seeking guidance to restore their credit and reap the other benefits of rehabilitation programs.

“Currently, outreach attempts to a significant population of consumers including those with Department of Education loans are limited. As a result, this population may not be afforded the same benefits simply because they are not aware of the opportunities available to them.

Unfortunately, the HEROES Act proposes additional limitations on communications.

“As Congress works towards additional policy solutions to address challenges related to COVID-19, we ask that it further consider how consumers, creditors, institutions of higher education, as well as the collection agencies serving them, and employing thousands of Americans throughout the country, will be impacted by overbroad efforts. Currently thousands of employees working in the student borrowing industry have been laid off, and the proposals in the HEROES Act would certainly lead to additional job loss for many Americans,” Neeb said. “Limiting this part of the economy, particularly for those who have not been impacted by COVID-19, does not make sense, and alternatively harms many other consumers and constituents.”

Learn more about the HEROES Act and ACA’s advocacy, including a summary of ARM industry thoughts on the bill, here.

For more information on how the ACA Licensing staff can assist with your licensing needs, please contact us at Licensing@acainternational.org  or call (952) 926-6547.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

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