ACA Cast

Social media, the internet and countless complaint portals have made it easy for consumers to quickly voice their displeasure with anything and everything from the weather to political candidates to the accounts receivable management industry. Anyone who runs a successful business knows that if companies don’t tell their own story, someone else will do it for them. 

As a follow up to the highly successful session, “Managing Your Brand,” featured at the 2019 Convention & Expo in San Diego, ACA International staff invited panelists to continue the engaging conversation in an ACA Cast episode available now. Panelists Wendy Badger, Esq., CCEP, chief compliance officer with ECMC Group; Teri Plunkett, regional director of client services with Professional Finance Company; and David Williams, president of Williams & Fudge, join moderator Debra Ciskey, IFCCE, executive vice president with Collections Coach LLC, in this riveting 30-minute discussion about online reputation management.

This topic is also covered in the October 2019 issue of Collector magazine in a piece written by communications consultant Tim Dressen. The article titled, “Information Transformation,” begins on page 24.

Unemployment is at an all-time low—but is that enough to sustain a healthy economy? Grab your crystal ball and join ACA for quick look into the future!

Headlines predicting an impending recession have recently increased in frequency as some economic indicators point to a potential slowdown. While it’s certainly no secret that the Federal Reserve cut interest rates, an inverted yield curve recently appeared and Brexit is stalled, these indicators are not necessarily foreshadowing doom. Remember, the unemployment rate is at an all-time low dipping to 3.7% in July, not to mention other data reveal a positive outlook signaling the economy will continue to grow.

In this episode of ACA Cast titled, “The Economy: Preparing for What’s Around the Corner,” Kaulkin Ginsberg’s Jared Lese, director of research, and John Hannan, market research analyst, engage in an interesting conversation about state of the economy and what consumers can expect.

Technology and the accounts receivable management industry go together, but it takes fine tuning to make sure embracing new systems helps your bottom line and your staff to effectively communicate with consumers. 

Using artificial intelligence, machine learning and virtual agents at your company does mean investing money up front, however there is a return on that investment and significant benefit to employees, explains Gordon Beck, president and COO of Valor Intelligent Processing LLC in Jacksonville, Florida.

In this episode of ACA Cast titled “Utilizing Technology to Scale Back Non-Revenue Related Overhead,” Beck talks with ACA International’s Education and Membership Development Director Harry Strausser III, IFCCE, MCE, about the first steps in implementing technology systems, finding the right product and using those products to strengthen your team and communication with consumers.

Call baiting is a tricky technique used by consumers, their attorneys or other nefarious organizations to entrap accounts receivable management professionals who work diligently to follow the letter of the law. Think about it—as an ARM professional, have you ever spoken with a debtor who was reading from a script, talking on a speaker phone or perhaps being coached by a third party? If so, you may have been chatting with a call baiter.

In this episode of ACA Cast titled “Call Baiting: Don’t Get Hooked,” John Bedard, owner of the Bedard Law Group in Atlanta, and Greg Ruffino, director of training at Williams and Fudge in Rock Hill, South Carolina, offer sound advice and tips on recognizing and dealing with call baiters. This informative episode is a follow-up to Ruffino’s well-attended session on call baiting featured at ACA International’s 2019 Convention & Expo in San Diego. 

Historically, West Virginia has been known for its draconian collection laws. But since 2015, an unsuspecting litigation trend has surfaced. Industry leaders have recognized an increase in class action filings in West Virginia and two of those leaders want to tell ACA Members why. What once was a predicable award for damages pursuant to an individual cause of action under the West Virginia Consumer and Credit Protection Act has morphed into a potential catastrophic class action payout.  

Jeff Turner, partner at the law firm of Surdyk, Dowd & Turner in Ohio and Nick Mooney, Partner at the law firm of Spilman, Thomas, and Battle in its Charleston, West Virginia office, discuss why consumer attorneys prefer to file class actions in the state of West Virginia instead of filing in federal court pursuant to the Fair Debt Collection Practices Act in the latest episode of ACA Cast titled, “Litigation Landscape in West Virginia: What Debt Collectors should know about the 2015 Amendments to the Consumer and Credit Protection Act”. 

Great ideas are not exclusive to the boardroom! Effective leaders understand that all staffers can contribute worthy thoughts to the “idea box.”  

Effective leaders recognize that revolutionary ideas are just as likely to emerge from a junior staffer sitting in a cubicle as they are from a seasoned executive leading a board meeting. The big challenge is encouraging staff members – regardless of position and experience – to feel comfortable sharing their thoughts. This is a timeless hurdle faced by many leaders who seek to create a healthy work environment that promotes thoughtful discussions resulting in growth and improvement.

In the latest episode of ACA Cast titled, “Leadership Fuel with Michael Lamm: Idea Engagement,” Kim Coghill, ACA’s vice president of communications, and Alex Szeto, the ACA Cast producer, talk with Michael Lamm about new and thoughtful approaches to encouraging staff to share ideas. Lamm, the managing partner at Corporate Advisory Solutions in Philadelphia, is featured in a regular ACA Cast series titled, “Leadership Fuel with Michael Lamm.” 

Accounts receivable management industry companies that suffered and survived the Great Recession have unlimited opportunities to secure new business and grow beyond pre-recession levels. Consider this, in the 10 years since the recession, sector net charge-offs have amounted to more than $54 billion across the commercial banking, fintech and credit union marketplaces, said Jared Lese, the director of research at Kaulkin Ginsberg, who also noted that these defaults included credit cards, private student loans and various personal and business loans. Thus, third party debt collectors seeking to expand their businesses have more than one option, that is, if they are willing to dig deep into a burgeoning asset class.

Spend 15 minutes today listening to Lese and Mike Ginsberg, president and CEO of Kaulkin Ginsberg, discuss business trends in the latest episode of ACA Cast titled, “Growth Market: The Re-Emergence of Financial Services.” 

Economic conditions are strong, unemployment continues to decline, banks are selling, and fintech is an emerging market. When you combine these facts, it becomes crystal clear that the window is wide open to expand your business by purchasing a debt portfolio.

The latest episode of ACA Cast titled, “Debt Buying: Mistakes to Avoid,” features a discussion between industry veteran Mike Ginsberg, an ACA member who is the president and CEO of Kaulkin Ginsberg, and Mike Chiodo, managing member of AMG Funding.

While attending ACA events in person provides professionals with the greatest opportunity to network and learn, the association recognizes that some ARM professionals find it difficult to leave the office for a few days. So, to connect with a wider audience this year, ACA International is launching its first-ever, free live stream series from the 2019 Convention & Expo in San Diego.

In this episode of ACA Cast titled, “Live, From San Diego: Four Sessions in One Day,” industry veterans Harry Strausser III, ACA’s education and membership director, along with Wendy Badger, vice president, corporate compliance and chief compliance officer with ECMC Group in Minneapolis, provide a brief outline of the four sessions offsite ARM professionals can log in to from their home, office – or the local coffee shop. You may not be in San Diego, but ACA wants to make sure you are exposed to some of same important information, trends and updates your peers are learning about while attending the 2019 Convention & Expo.   

Registration for the live stream sessions is open until Monday, July 15. #ACAConv19.

Top ARM professionals provide analyses and insights into the finer points of the proposed rule.

While the Consumer Financial Protection Bureau’s long-awaited proposed rule concerning the debt collection industry was issued two months ago, there’s still time to impact the final form by submitting comments to the bureau. To help its members understand the finer points of the rule, ACA International launched a first-class education program highlighted by webinars, presentations and numerous news articles and letters. Nevertheless, there’s more to come.

In the latest episode of ACA Cast titled, “The CFPB’s Proposed Rule: Peeling Back the Layers,”  Jack Brown III, an attorney and president of Gulf Coast Collection Bureau, leads an informative panel discussion outlining important highlights of the proposed rule. Featured panelists include Eileen Bitterman, a compliance officer and shareholder with Weltman, Weinberg & Reis, and Tim Collins, the chief compliance officer with TrueAccord.