The Consumer Relations Consortium (CRC) today announced the addition of two new member companies, The Frost-Arnett Company and General Service Bureau, Inc./Early Out Services, Inc.
The CRC is a membership group for larger market participants in the debt collection industry (defined by the Consumer Financial Protection Bureau as those firms with $10M or more in annual revenue from collection activity). The fundamental mission of the CRC is to approach industry and regulatory change by building relationships and engaging in meaningful dialogue with consumer advocacy groups and regulators.
Since its founding in September 2013, CRC members have been meeting repeatedly with consumer groups and regulators to discuss the details of the thorniest issues raised in the CFPB’s Advance Notice of Proposed Rulemaking as well as state rulemaking activities. Both consumer advocates and regulators have commented on the surprisingly candid and collaborative nature of CRC representatives during these extended small group sessions, which have been productive and eye-opening for all involved.
In addition to its efforts with regulators and consumer advocates, the CRC acts as a valued peer group for its members, who welcome the opportunity to discuss best practices and industry trends within a trusted group of similarly-sized companies. The new members join on the eve of the CRC’s summer meeting in Washington, D.C.
George Buck, President of The Frost-Arnett Company, offered “The decision to become a member of the CRC was an easy one. The dialogues that the CRC engages in are crucial to every aspect of the debt collection industry. The chance to have a voice in that conversation is invaluable, now more than ever. In a climate that all too often pits consumers and agencies against each other, the CRC provides a vital alternative: a forum for open dialogue. Becoming a member of the CRC means being involved in shaping our ever-evolving industry.”
Robert Leavitt, Chairman of the Board of General Services Bureau, Inc./Early Out Services, Inc. added, “On behalf of nearly 200 associates who have long taken a consultive approach to collections, we welcome the opportunity to be a part of such a progressive thinking group that is trying to bridge the gap of understanding between consumers and collectors.”
Tim Bauer, President of The iA Institute, which manages the CRC, and co-founder of the group when he was CEO of Integrity Solution Services, said “We couldn’t be more thrilled to welcome Frost-Arnett and GSB/EOS. Both are led by thoughtful executives who truly appreciate the culture of compliance, and the candid nature of our discussions within the group, and with regulators and consumer advocates. They will make fantastic additions.”