Event brings together industry experts, state and federal regulators for talks on ongoing issues impacting the accounts receivable management industry.
9/23/2019 10:00
State and federal regulators joined members of the accounts receivable management industry (ARM) industry last week for discussions on technology, compliance and the Consumer Financial Protection Bureau’s proposed debt collection rulemaking, among other issues impacting the industry.
The North American Collection Agency Regulators Association (NACARA) annual conference in Santa Fe, New Mexico, was an opportunity for members to discuss these issues as the CFPB considers thousands of comments on its proposed rulemaking, including from ACA International, submitted by the Sept. 18 deadline.
ACA members, staff, ARM industry experts, regulators from the Federal Trade Commission and CFPB as well as an array of state agencies participated in the conference as featured speakers.
“The unique conversations and open dialogue that take place at this conference are invaluable for both industry and regulatory attendees,” said ACA’s Vice President of Government and State Affairs Andrew Madden.
Madden provided an ARM industry update and detailed state level legislative proposals impacting the industry and regulators.
Leslie Bender, IFCCE, CCCO, chief strategy officer and general counsel at BCA Financial Services Inc., gave a comprehensive presentation on privacy and data collection while Rozanne Andersen, vice president, chief compliance officer with Ontario Systems LLC, discussed compliance, the CFPB’s proposed debt collection rule and current challenges facing the ARM industry.
Technology in the debt collection space and the growing use of artificial intelligence and machine learning also dominated presentations during the conference.
Stephanie Eidelman, CEO of the iA Institute and insideARM, shared her expertise on collection and artificial intelligence technology while ACA member Kelly Knepper-Stephens, vice president of legal at TrueAccord Corp., led a conversation on the machine learning process.
Overall, the event is an opportunity for regulators and ARM professionals to have in-depth conversations on the current state of the industry as well as challenges and technological advances that are changing consumers’ wants, needs and expectations for communications.
“It is important to share ideas and hear what issues are impacting regulators and the industry across state lines,” Madden said.