WASHINGTON, March 18 /PRNewswire/ -- The four organizations representing the nation's accounts receivables management industry are calling on Congress to keep the Federal Trade Commission (FTC) as the exclusive regulator of debt purchasers and collectors. This unprecedented action by these trade groups to come together is a response to proposed legislation that would strip the FTC of its powers and place the industry under a new authority.DBA International, ACA International, the Commercial Law League of America, and the National Association of Retail Collection Attorneys, represent thousands of businesses throughout the United States who purchase and collect delinquent consumer debt, employing hundreds of thousands throughout the United States and returning $40 billion annually to the economy.
Accounts Receivables Management Industry Calls On Congress to Keep Ftc As Exclusive Regulator
Since 1978, the accounts receivables management industry has been regulated by the Fair Debt Collection Practices Act (FDCPA). FDCPA sets legal standards under which debt buyers and collectors conduct their business, defines the rights of consumers involved with debt collectors; an...