ARM Industry Leaders Gather in DC for the ACA Capitol Hill Fly-In

Last night, I attended ACA International’s Open House celebrating the opening of their new Federal Affairs office in Washington, D.C. The association’s Executive Committee, agency owners, senior executives, and ACA leaders participated and members from neighboring associations stopped by. It was a nice evening.

The purpose of the event is significantly more meaningful than a typical open house celebration. Today (October 1) is the ACA’s Capitol Hill Fly-In event, where industry leaders from across the country are gathered together to meet with members of the House and Senate and their staffs to garner support for the industry’s federal legislative agenda. As the current Administration attempts to create a Consumer Financial Protection Agency, reform healthcare legislation, and modernize FDCPA, industry participation is crucial.

The Consumer Financial Protection Agency (CFPA) alone is cause for concern for the accounts receivable management industry. There is a good chance that the new agency will oversee the FDCPA, making it the ARM industry’s new regulator (“Proposed Consumer Financial Protection Agency May Oversee FDCPA Enforcement,” June 25).

I am thrilled with the energy of the participants who are taking time out of their own busy schedules this week to lobby on behalf of the industry. Their efforts should not go unnoticed and should not be limited to a few days on Capital Hill. Many initiatives will have to be addressed in months to come at state capitals across the country — and increasingly at the local municipal level as well. Participation at these levels is critical too.

On a personal note, there was another gathering of industry veterans a couple of weeks ago that should not go unnoticed. They came to pay their respects for the passing of friend and colleague, Pete Nance. His last venture in collections was the creation and sale of FAMS with partner and friend R.T. Cardwell. Pete touched a lot of people during his decades of collection service, including mine, and he will be missed by many.