Industry News

From Collector: Bearing Fruit

ACA International’s TCPA reform efforts are successfully garnering support from influencers and leaders in Washington, D.C. It’s no secret to members of the accounts receivable management industry—as well as their clients and the many consumers they’ve helped—that they provide an important service to their communities and are vital in ensuring a functioning economy. However, it’s always nice when someone else says it too, particularly when... Read More

U.S. Household Debt Reaches Record $13 Trillion

As the stock market soars to new heights, new data shows that U.S. household debt has reached a record high. The Federal Resere Bank of New York said Tuesday that household debt totaled $13 trillion in the third quarter ended September 30, an increase of 0.9% from the previous quarter. This marks the 13th straight quarterly increase (not adjusted for inflation) of household debt. One area of... Read More

RMA’s Annual Conference: Featuring Mike Ginsberg

GERMANTOWN, Md. – Mike Ginsberg, president and CEO of Kaulkin Ginsberg, will be joining a panel of industry experts at RMA’s 2018 Annual Conference to discuss the state of the industry in a session titled, “State of the Industry – M&A and Financing in the Debt Purchasing and ARM Industry – Who, How, and What’s Next?” This session provides insight regarding the M&A landscape among... Read More

The Importance of the Third-Party Debt Collection Industry

Ernst & Young Survey Once Again Demonstrates Substantial Value of Third-Party Debt Collection Industry ACA International released the 2017 Ernst & Young survey which provides an in-depth overview of the economic importance of the third-party debt collection industry on the U.S. and individual state economies. Based on data from 2016, the report details the industry’s contribution to employment, asset recovery and other fiscal categories. Since 2013, the last year a similar... Read More

FTC Bans Three Scammers From Posing as Debt Collectors

The Federal Trade Commission has reached a settlement with three defendants who allegedly posed as lawyers and falsely threatened to sue people or have them arrested for failing to pay on debts they did not owe are banned from the debt collection business under a settlement with the Federal Trade Commission. The settlement resolves an FTC complaint filed in July 2017, alleging that the defendants told consumers... Read More

Total Household Debt Increases

Total Household Debt Increases, Driven by Mortgage, Auto and Credit Card Debt Credit Card Delinquency Flows Step Up Notably Over Past Year, While Delinquency Flows for Other Non-Housing Debt Worsen Modestly August 15, 2017 NEW YORK – The Federal Reserve Bank of New York today issued its Quarterly Report on Household Debt and Credit,which reported that total household debt increased by $114 billion (0.9%) to $12.84... Read More

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