ACA Criticizes Continued Use of Questionable Data to Mischaracterize Industry
Credit and Collection Industry Releases Paper that Refutes Flawed Report from U.S. PIRG
WASHINGTON, May 2, 2017 /PRNewswire-USNewswire/ -- ACA International, the Association of Credit and Collection Professionals, has significant concerns about misleading data used in a U.S. Public Interest Research Group (U.S. PIRG) report to exaggerate complaints against professional debt collection companies that work to recover outstanding medical debt. The U.S. PIRG report is based on unverified and non-contextualized data made available by the Consumer Financial Protection Bureau (CFPB).
In light of the fundamental flaws of the CFPB's complaint data, ACA identified several issues with U.S. PIRG's report that are discussed in depth in a background paper accessible by clicking here.
"ACA is committed to providing original research and timely analysis to our members and the industry, and we will continue to be vigilant in defending ourselves and correcting the record," said Keith Kettelkamp, ACA International's president. "I urge decision makers who are quick to rush to judgment to consider all the facts, and to read this background paper."
The credit and collection industry is one of the most highly regulated industries by both federal and state laws, and consumers have rights and protections under the law. As a result, legitimate debt collectors are focused on compliance and treat consumers lawfully and with respect. By restating the CFPB's raw complaint data that suffers from fundamental limitations, the U.S. PIRG compounds the negative image debt collectors work hard to overcome and unfairly fosters greater mistrust of debt collectors by consumers, an outcome that can ultimately harm consumers by impeding the successful recovery of debt.
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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Pat Morris
http://www.profnetconnect.com/patmorris
Contact: Kim Coghill
VP Communications,
ACA International
202-374-7535
[email protected]
SOURCE ACA International
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