Stephanie is president & CEO of The iA Institute, an organization dedicated to bringing perspective to the complex debt industry through insight and collaboration. We bring a variety of stakeholders to the table for in-depth conversation about how to foster a culture of compliance, and how to work through long-standing industry challenges together. The iA Institute publishes insideARM.com, hosts the annual Creditor-Collector and Large Market Participant Summits, and manages the Consumer Relations Consortium. Anyone who knows Stephanie will immediately tell you that her passion is in organization. Literally – she loves a clean desk, a well-labeled closet, an elegant process, a useful spreadsheet.
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This is the only event each year that provides a forum for these executives to interact candidly with peers who have similar challenges, in a sales-free environment. There is no exhibit hall, and only a small number of sponsors, whose representatives have the background that allows them to contribute productively to the conversations.
I am all for transparency. In most cases I think it’s really important — for consumers, for employers, for relationships. But in the case of a nearly unanimous vote in the U.S. House of Representatives this week on HR 1265, I wonder whether the intended result will occur.
At a recent industry conference, I sat in on a really straightforward and well-organized presentation covering the main components of a solid Compliance Management System (CMS).
If you’ve been to a few industry conferences, you know that the staff at all of them work hard to coordinate many details and try to create the best possible experience for attendees. But worthy of note about PowerUp was the extra mile they went to be creative, and the willingness of the management team to go along.
Last week I attended Consumer-Action’s 43rd Annual Awards Event, along with Rob Meck, CEO of Premiere Credit and Tim Heber, Compliance Officer of FIS Global. We represented the Consumer Relations Consortium (CRC), which was a sponsor of the event along with Google, CapitalOne, Credit.com, TracFone, Amazon, AT&T, Microsoft, and Time Warner Cable.
NPR’s The Diane Rehm Show aired a segment yesterday called “Inside America’s Debt Collection Industry.” Among the four guests, there were no representatives from the debt collection industry. What’s also interesting is that, in fact, most of the discussion was not about third party debt collectors, but creditors, debt buyers, and credit reporting agencies.
I’ve spoken with quite a few compliance professionals recently. I can truly say that I am overwhelmed for you. The challenges and responsibilities facing compliance officers at all levels today are significant. Yet I get the sense that each of one you is reinventing the same wheel at the same time.
Gordon Beck, Chief Operating Officer of Diversified Consultants, Inc., based in Jacksonville, Florida, sat for an interview last week with ABC World News with Diane Sawyer. Beck said ABC set out to investigate TCPA lawsuits where companies – including collection agencies – dialed wrong numbers. ABC producers told Beck that he was the only collection agency official that agreed to be interviewed.
Proposed new debt collection rules are expected in the coming 5-12 months. Wouldn’t it make sense for creditors and collectors to be talking to each other right now to better understand the challenges each group faces?
I’m going to be so bold as to say that every collection agency, law firm, or debt buyer with 15 or more employees NEEDS to participate in Best Places to Work in Collections, which by the way, is free.