New York Times Runs Interesting Defense of ARM Industry

Patrick Lunsford

The New York Times is running a piece today highlighting ACA International’s push to update debt collection laws and regulations. The article uses the language and rationale often given by ARM professionals to justify the need for updates, veering away from the typical coverage of the industry.

The piece, “Debt Collectors Ask to Be Paid a Little Respect,” opens by noting that debt collectors are also the target of extensive abuse during their recovery process. It attempts to paint ARM professionals as something that most Americans never even consider: humans.

But it’s not all wine and roses, as writer Andrew Martin correctly points out that some collection agencies frequently run afoul of the law and the industry continues to operate with little oversight save for consumer plaintiff attorneys.

As the looming battle over FDCPA amendments and the interaction with a new regulator – the Consumer Financial Protection Bureau – draw closer, this type of even-handed commentary can only help to frame the debate for the best possible outcome for both consumers and ARM companies.