Collector - May 2020 - 8

INDUSTRYNEWS

ACA NEWS

A Shock to the System
How ACA is helping members in response to the COVID-19 pandemic.

I

t's been almost two months since the
novel coronavirus, COVID-19, began
sweeping the U.S., and our world
has changed dramatically as a result.
Quarantines, shutdowns and business and
school closures have left many Americans
struggling to stay afloat in their personal
and professional lives.
For the accounts receivable management
(ARM) industry, the pandemic has brought
daily, if not hourly, changes to members'
businesses. ACA International continues to
monitor the COVID-19 crisis on behalf of its
members to ensure that we are providing the
most up-to-date guidance and information
to help you adapt.
The situation is very fluid, making it
difficult to chart in a printed publication
like Collector magazine. At press time, this is
how ACA is providing support to members
throughout the coronavirus crisis.

EDUCATION & COMMUNICATION
When the World Health Organization
declared the rapidly spreading coronavirus
outbreak a pandemic on March 11, ACA
sprang into action, almost immediately
releasing articles, podcast episodes and
compliance documents to help members
navigate these challenging waters. ACA
corralled all this information on a
dedicated section of its website to make it
as easy as possible for members to find it:
acainternational.org/about/covid-19.
ACA also held multiple webinars to
help members understand their evolving
compliance obligations regarding state and
federal regulations that impact collection
activity and business operations.
Starting in March, ACA CEO Mark
Neeb and key members of the association's
compliance and advocacy teams hosted
the Daily Huddle, a video series delivering
updates on COVID-19 and its impact on
the ARM industry. Each day, approximately

8

1,000 members have joined
the Daily Huddle to hear from
ACA leaders and ARM industry
experts. You can view the
Daily Huddle library here:
www.acainternational.org/about/
covid-19#recordings.
ACA created a new community
on The Hub where members can
share their own ideas, questions and
concerns with each other about the
pandemic. You can log in to ACA's website
at www.acainternational.org and click on
The Hub icon to access the new group:
COVID-19: Community Conversation
for Members.
Until May 15, ACA's learning and
training resources are free to members. This
includes online training via the Training
Zone and all recorded and live Core
and Hot Topic seminars. In addition, all
credentialing exams (including capstones)
are discounted by 50%.

STATE & FEDERAL REGULATIONS
In light of social distancing requirements,
some states that had previously not allowed
debt collection agents to work from home
relaxed their rules during the pandemic.
For example, Minnesota allowed individual
registered collectors to temporarily work
from home as a precautionary measure
through the end of April.
ACA members also had to grapple with
state-issued "shelter in place" orders, which
often restricted or even temporarily shut
down their businesses.
ACA continues to monitor state and city
updates and remains available as a resource
for members during this difficult time of
regulatory change. In addition, our team
has maintained regular direct and indirect
communications with state and federal
regulators to receive up-to-the-minute
guidance on industry-relevant orders and

emergency regulations, which we continue
to report on at regular intervals.
ACA's federal advocacy team has been
busy tracking multiple pieces of legislation
introduced in response to the pandemic,
including the Families First Coronavirus
Response Act and the Coronavirus
Aid, Relief and Economic Security Act,
as well as loan programs launched for
struggling businesses.
In March, Neeb addressed concerns from
certain lawmakers suggesting that the work
of the ARM industry should be eliminated in
response to the coronavirus. In a letter to the
White House, Neeb outlined how this would
disrupt the credit ecosystem and cause harm
to consumers, lenders, medical providers
and other businesses throughout the country
that rely on the ARM industry.
"Consumer welfare depends on open
communication, and it is important to have
policies that provide consumers with more
options that will allow them to continue to
access credit and services," Neeb said in the
letter. "This is critical due to the uncertainty
about the length and severity of the
economic impact related to the coronavirus."
View the complete letter to the White
House and other advocacy materials at
www.acainternational.org/advocacy/
advocacy-resources.

ACAINTERNATIONAL.ORG


http://www.acainternational.org/about/ http://www.acainternational.org http://www.acainternational.org/about/covid-19 http://www.acainternational.org/advocacy/advocacy-resources http://www.ACAINTERNATIONAL.ORG

Collector - May 2020

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