ACA applauds CFPB actions that work to eliminate illegal actors from taking advantage of consumers.
April 8, 2021 – Washington, D.C. – ACA International CEO Mark Neeb released a statement today on the Consumer Financial Protection Bureau’s consent order against a company and its former owner for violations of the Fair Debt Collection Practices Act and Consumer Financial Protection Act of 2010.
“ACA applauds CFPB actions that work to eliminate illegal actors from taking advantage of consumers under the guise of working in the highly regulated and compliant debt collection industry,” said ACA CEO Mark Neeb. “ACA members take consumer protection seriously and play an important role in our credit-based economy.”
When there are admissible facts evidencing egregious conduct, ACA supports law enforcement and regulators’ efforts to target bad actors, stop illegitimate debt collection activity and safeguard consumer rights by removing known violators from the financial marketplace.
“These companies aren’t debt collectors; they are criminals posing as debt collectors, and we are glad to see the bureau's efforts to eliminate this type of activity,” Neeb said.
ACA International (ACA), the association of credit and collection professionals, is the largest membership organization in the credit and collection industry. Founded in 1939, ACA brings together third-party collection agencies, law firms, asset buying companies, creditors and vendor affiliates, representing tens of thousands of industry professionals. ACA produces a wide variety of products, services and publications, including educational and compliance-related information; and articulates the value of the credit and collection industry to businesses, policymakers and consumers. www.acainternational.org.