ACA looks forward to working with new and returning elected officials and building on its successful advocacy strategy in 2023.
11/09/2022 8:30 A.M.
3.5 minute read
With the midterm elections over, although results still continue to come in for some key areas, ACA International stands ready to work with new and returning legislators at the state and federal level and continue its strong advocacy strategy on behalf of members.
Redistricting and new census counts influenced the election and candidate pool leading up to Nov. 8, as did the more than 40 House retirements, including 29 Democrats and 13 Republicans.
There were nearly 500 election races in the midterms, 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 the House Financial Services Committee and the Senate Committee on Banking, Housing and Urban Affairs,” Purcell said.
Academic research has confirmed the basic economic reality that losses from uncollected debts result in higher prices and restricted access to credit. ACA looks forward to educating lawmakers about the critical role the collections process plays in a healthy state and national economy. ACA partners with 33 independent units to cover activity in all 50 states and has international members in more than 30 countries.
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 dozens of state-level races, including 36 governors, 30 state attorneys general and more than 6,000 state legislators.
ACA congratulates the elected candidates and looks forward to working with state legislators, state attorneys general and regulators across the U.S. on issues that have implications for the ARM industry.
“ACA International has dedicated member advocates across the U.S. ready to connect with their new and returning state leaders,” said ACA Vice President of State Unit and Government Affairs Andrew Madden. “State laws and regulations run the gamut, and we are committed to working with officials on both sides of the aisle to provide education about the ARM industry and the impact of state laws and regulations for businesses and the clients and consumers they work with.”
“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. “It is a priority for ACA to preserve the industry’s ability to help consumers and the economy, and our advocacy with Congress and state legislatures will reflect that as new leaders take office in January.”
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