A statement from ACA International CEO Mark Neeb.
ACA International continues to work to educate Congress, and specifically the U.S. Senate, about the troublesome provisions in the HEROES ACT and submitted a position letter to House Financial Services Committee in advance of Thursday’s hearing. ACA is pleased that several members of the committee understood and expressed concerns that ACA has been outlining in its advocacy efforts.
ACA appreciates that Congress considered our concerns about an outright ban on collections and did not include language limiting the ability to make phone calls in the HEROES Act approved in the House in May. However, the HEROES Act proposes several changes that would have a significant impact on the accounts receivable management (ARM) industry.
“The HEROES Act is a step backward. While it claims to assist consumers by prohibiting debt collection during the COVID-19 pandemic, the legislation instead threatens the debt collection industry’s ability to help its creditor clients, including the small businesses, community financial institutions, and hospitals that rely on them,” ACA CEO Mark Neeb said in the letter.