ARM Executives Launch Group to Represent Larger Market Participants in Debt Collection

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A group of prominent ARM leaders Monday announced the launch of a group, the Consumer Relations Consortium (“CRC”), to represent the interests of Large Market Participants in the debt collection industry.

The group was formed by a group of industry executives who believe that a reasonable and knowledgeable voice is needed to address both issues and solutions in the collection industry.

“We firmly believe that communication – ‘relations’ – is the key to respectful resolution of a consumer’s financial situation,” said steering committee member Timothy Bauer, CEO of Integrity Solution Services.

The mission of the CRC is to collaborate with regulatory agencies to affect change resulting in industry reform that not only provides the best level of service to consumers but also ensures the critical role collections plays in the economic cycle survives, and allows product and service providers to continue to make affordable credit available to the Consumer.

We want to collect the right debt, from the right consumer, the right way.

The CRC brings a unique approach to the marketplace by proactively engaging with consumer advocacy groups to bridge the gap of understanding and expectations often present between consumers and collectors.

Steering committee member Marcelo Aita, CEO of NCB Management Services, Inc. said, “We believe that there is a true common interest among all constituents in the debt collection space; our work will yield solutions to issues that impact the ultimate stakeholder, the Consumer.”

The founding member organizations of the CRC have a considerable impact in the debt collection space. Collectively, these members:

  • serve the largest financial institutions and consumer lenders in the country
  • service every major asset class in the industry including: credit cards, student loans, mortgages, auto loans, unsecured personal loans, healthcare, telecom, and utilities
  • initiate millions of communications to consumers every month

More than a dozen of the largest debt collection agencies have already joined the CRC.

Every stakeholder in the debt collection space has their own special interests. The CRC is a unique assembly of leaders that have a passion for fair, respectful, and progressive collaboration to address what is not working, and dispel misconceptions that persist in the debt collections space. We believe communication is the foundation for reform and ultimately success.

The group is led by a Steering Committee which includes:

Tim Bauer – CEO, Integrity Solution Services, Inc.
Marcelo Aita – President & CEO, NCB Management Services, Inc.
Susan Giordano – VP Compliance & Risk Management – EOS CCA
Stephanie Eidelman – President & CEO, insideARM LLC

Contact:

info@crconsortium.org

 

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Posted in CFPB, Collection Laws and Regulations, Debt Collection, Featured Post .

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  • avatar Raymond says:

    Not sure why it takes large collection agencies to be a voice of an industry big, medium, or small. I would think all have the same common interest and it doesn’t take larger agencies to be a voice of smaller ones.

  • avatar Ameripay says:

    Being a supervised institution carries its own set of challenges that the vast majority of market participants (I believe 80% of ACA members have fewer than 50 employees) do not share.

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