Consumer litigants capitalizing on loopholes in current compliance legislation (Fair Debt Collection Practices Act, Telephone Consumer Protection Act, Foti) might be one of the fastest growing cottage markets affecting the accounts receivable and collections industries.
“It’s almost to the point,” one industry CEO said, “where simply making a phone call is likely to be in violation of at least seventeen laws.” And consumer attorneys are smarter about finding those infractions and capitalizing on them.
Collection agencies can turn to ACA and some of the larger conferences for a chance to network and seek clarity on these issues; however, smaller, localized conferences, like the upcoming Northeast Debt Collection Expo, may actually be of more use to agencies looking for guidance.
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