Agency of Credit Control Named BBB TORCH Award Finalist

Agency of Credit Control, Inc. is a finalist for the TORCH Award Encouraging and supporting ethical business practices is a key purpose of the Better Business Bureau.  The Torch Award for Marketplace Ethics is the most prestigious award the BBB can present to a business or nonprofit.  Being a recipient indicates that the business or nonprofit not only believes in the high standards promoted by... Read More

Data Shows Second Year of Declines in Consumer Debt Collection Complaints

An emerging trend shows that debt collectors are working hard to assist consumers and help the U.S. economy. For the second year in a row, complaints against debt collectors have dramatically decreased and debt collectors have earned a higher complaint resolution rate than the all-industry rate, according to the Council of Better Business Bureaus. The BBB’s new data indicates that debt collection complaints have dropped... Read More

Consumer Credit Default Rates Reach New Post-Recession Low

S&P and Experian report the comprehensive measure of changes in consumer credit defaults is at a new low since the economic recession, but bank card default rates continue to increase. Consumer credit default rates reached a new low since the economic recession, according to a news release from S&P Dow Jones Indices on the latest S&P/Experian Consumer Credit Default Indices. The comprehensive measure of changes... Read More

New York Fed Provides In-Depth Look at U.S. Economy in a Snapshot

The latest report shows flat consumer spending despite solid income growth and improvement in the labor market. The Federal Reserve Bank of New York released its latest U.S. Economy in a Snapshot Thursday and presented an analysis of the purpose of the data series, launched in June 2015, for households and economists. “Our goal is to provide information that helps households and businesses follow the data along... Read More

From Collector: Are You In The Clear?

Understanding how the FDCPA applies to first party creditors. For decades, the Fair Debt Collection Practices Act has been largely viewed as the domain of third-party debt collectors. Today, however, smart companies know otherwise. Both the Federal Trade Commission and the Consumer Financial Protection Bureau have made it clear—through guidance, enforcement actions and lawsuits—that in certain situations, first-party creditors fall under the FDCPA’s jurisdiction directly... Read More