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ACA International Responds to State 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 8:45 A.M.

2 minute read

Washington, D.C, – The midterm elections results are coming in from dozens of state level races, including 36 governors, 30 state attorneys general and more than 6,000 state legislators.

ACA International 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 accounts receivable management (ARM) industry.

“ACA International has dedicated member advocates across the U.S. ready to connect with their new and returning state leaders,” said 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.”

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.

“It is a priority for ACA to preserve the industry’s ability to help consumers and the economy in this way and our advocacy with Congress and state legislatures will reflect that as new leaders take office in January,” said ACA CEO Scott Purcell. “We will not slow down in our effort to educate lawmakers about the tremendous benefit ACA members provide to the quality of life of everyday Americans through their participation in the credit-based economy.”

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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