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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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.
On Tuesday, Senior Vice President at Wells Fargo Bank Larry Tewell moderated a discussion titled “Implications for Default Management” among a panel of regulators at the Consumer Bankers Association national conference, CBA Live
Yesterday at CBA Live, the annual conference of the Consumer Bankers Association, I attended a session geared to bankers called “Understanding the CFPB’s Supervisory Program.” It was interesting to hear about the frustration some banks are having with supervisory examinations.
The challenges facing debt collectors – and creditors, and consumers – today are more than 30 years in the making and have compounded over time. So it’s the perfect opportunity to get everyone in the same room to talk it out.
Friday’s farewell from NARCA president Lou Freedman and welcome from new executive director Mark Dobosz at NARCA’s fall conference in Washington D.C. were highly positive, and offered some transparency about the association.
The National Association of Retail Collection Attorneys (NARCA) announced a new executive director this summer. Mark Dobosz joined the ARM legal trade group at a very interesting time, and he has been furiously learning about the industry.