ACA Internationals Board of Directors unanimously voted to support legislation and policy changes designed to help stop the Department of Justice (DOJ) program known as Operation Choke Point - a program in which the Federal Deposit Insurance Corporation and DOJ reportedly applied pressure to financial institutions to cut off financial services to certain licensed, legally operating industries.
ACAs viewpoint was published Wednesday in a letter to members. ACA is the largest association representing credit and debt collection professionals. "This initiative has already been shown to have severe, negative impact on legal and legitimate businesses including our nations legitimate debt collectors," according to the letter from ACA. "The continued viability of your businesses in a healthy and productive business environment is at the forefront of the work we do on behalf of our Association. As we have done since this emerged in 2014, we will continue to share examples of members being negatively impacted by Operation Choke Point with legislators and regulators as a key part of our advocacy efforts in Washington."
ACA President Rick Doane said the action demonstrates that the health of the collection industry remains a top priority for the association. "ACAs presence in Washington has always been focused on the issues that affect our membership everyday. This letter goes far to ensure that our members are aware of our on-going, persistent effort to introduce and support legislative and policy changes that will protect the debt collection industry and its positive impact on the nations economy," Doane said.