Collector - March 2021 - 21

" A lot of times we hear about things that
don't necessarily have a direct impact on our
business in Illinois, but for instance maybe folks
in Wisconsin are saying, 'This is what we're
dealing with; watch out for this issue because
it might be coming to your state,' " Matrisch
said. " We can all learn from each other. "  
Regulatory websites and social media
feeds, industry publications, peer groups,
association seminars and networking
events can also help you stay attuned to the
latest news. The ACA Huddle, the online
education series launched last spring during
peak coronavirus panic, has evolved into
a weekly update on current events that
helps members stay connected to critical
regulatory and business issues.
" I listen to all the ACA Huddles, and every
week I hear something important that sticks
with me, " said Irene Hoheusle, IFCCE, CCCO,
vice president of collections and education at
Account Recovery Specialists Inc. " I send an
email out afterward to all the other people on
our strategic team, basically our owners, vice
presidents and our corporate attorneys,
and I give them an update each week on
what was said. That's how we get a lot of
our information as far as what's going on in
other states. What happens in one state does
often bleed into other states, so we want to be
prepared. "
Rodney Meeks, CEO at Credit Consulting
Services Inc., also cited his active
involvement in ACA as the principal way
he stays keyed into state news. Not only

# of State-Level Bills
Tracked by ACA
900+
640
2019

COLLECTOR 03.21

2020

does he get information from ACA and the
California Association of Collectors Inc.,
but he also gets the inside scoop through his
positions of leadership on federal and state
government affairs committees.
But receiving all this information
can sometimes feel like drinking from a
firehose. It can be difficult to find the most
efficient way to track each piece of relevant
information and assess how it impacts your
operations so you can create appropriate
internal policies and procedures.
Matrisch and the Pro Com Services of
Illinois management team sort through
regulations they believe apply to their
business and then discuss with counsel
about implementation and required changes.
Everything is tracked in the company's
compliance management system.
For example, in 2020, Illinois rolled
out a post-judgment interest rate change
for consumer debt. Pro Com Services of
Illinois made that change in its CMS and
communicated the new information to all
team members.
" We use a multifunctional compliance 
system that all team members log into so
they can see changes, and then they have
to acknowledge that they have gotten that
information, " Matrisch said.
At Account Recovery Specialists, the
company's vice president of operations
maintains a spreadsheet of state regulatory
changes, and after careful analysis, staff
members cascade relevant information to the
appropriate departments.
" The spreadsheets provide a snapshot so
we can see what's going on. Plus, if we have
to look back at something, we have dates
in there so we have the historical data, "
Hoheusle said.
No matter which route you take to track
them, staying on top of evolving state laws is
essential to running a compliant business.
" This is an industry where things change
quickly, so you need to have systems and
methods in place to stay abreast of those
changes, " Corwin said.
Anne Rosso May is ACA International's
communications director and editor-in-chief.

1

Maintain a close
connection with your state
or regional ACA unit.

2

Regulatory websites
and social media feeds,
industry publications, peer
groups, association seminars
and networking events can
help you stay plugged into the
latest news.

3

Track state regulatory
changes in a spreadsheet
or via your CMS and assess
how they impact your
operations.
21



Collector - March 2021

Table of Contents for the Digital Edition of Collector - March 2021

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