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ACA International Responds to Midterm Elections and Impact on the ARM Industry

ACA looks forward to working with new and returning elected officials and building on its successful advocacy strategy in 2023.

11/09/2022 2:55 P.M.

2 minute read

The midterm elections results continue to come in and party control in the U.S. House of Representatives and U.S. Senate is too close to call.

Redistricting and new census counts were influences leading up to Nov. 8, as were the more than 40 House retirements, including 29 Democrats and 13 Republicans.

There were nearly 500 election races on Nov. 8, including 34 seats in the U.S. Senate and the entire U.S. House of Representatives—435 seats.

“ACA International has worked to educate candidates on both sides of the aisle about the value the accounts receivable management industry provides and looks forward to working with new congressional leadership,” said ACA CEO Scott Purcell. “We will not slow down in efforts to educate new members of Congress, as well as those returning to Capitol Hill, about the tremendous benefit ACA members provide to the quality of life of everyday Americans through their participation in the credit-based economy.”

If there is a shift in party control in Congress, there could be major implications for the accounts receivable management (ARM) industry.

“We will continue to advocate on issues relevant to the ARM industry and look forward to working with new and veteran legislators in Congress and on key committees for the industry, including House Financial Services Committee and the Senate Committee on Banking, Housing and Urban Affairs,” Purcell said.

ACA members work with consumers to resolve their past debts, which in turn saves every American household more than $700 year after year. The ARM industry’s role serves a critical need in America’s credit-based economy and its efforts keep access to credit at the lowest possible cost. The industry’s collections benefit all consumers by lowering the costs of goods and services—especially when rising prices are impacting the livelihood of Americans throughout the country.

“ARM industry advocacy, no matter what the make-up is in Congress, continues to be a critical component to protecting the large and small businesses in the industry, their employees and families.,” Purcell said. “Having Leah Dempsey, partner at Brownstein, Hyatt, Farber & Schreck, lead our federal advocacy—along with her partners, and with engaged ACA members and their compelling stories, ACA is well poised to continue its level of respect and engagement on Capitol Hill.”

There were also several election races at the state level including 36 governors, 30 state attorneys general and more than 6,000 state legislators.

“ACA’s Vice President of Government and Unit Affairs Andrew Madden, along with strong leaders at ACA’s state units, are well poised to work through the plethora of changes that will occur in state legislative leadership as a result of the election to ensure that same societal impact of the ARM industry is well understood at the state houses,” Purcell added.

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.

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