ACA Board of Directors Approves Updated Code of Ethics

Published: July 26, 2007

New standards of conduct balance consumer rights and collector responsibilities

The board of directors for ACA International, the Association of Credit and Collection Professionals, (ACA) has unanimously approved an updated association code of ethics. The vote occurred during the July 25, 2007, Annual ACA Board Meeting, held in conjunction with the association's 68th Annual Convention & Exposition, at the Hyatt Regency Chicago hotel, Chicago.

The ACA Board adopted the updated code to ensure credit and collection standards accurately reflect the professional and ethical needs of the industry's changing marketplace, the needs of the public and the emergence of the debt collection industry as a critical part of the U.S. economy. Industry practices have significantly evolved over the past decade since the previous revision to the ACA Code of Ethics in 1997, and association leaders recognized the need to update the document governing the industry's standards.

"Today's decision is a milestone for ACA and the millions of creditor businesses we serve," said ACA President Michael Shoop. "It's the latest example of our strong commitment to professionalism and fair practices. ACA supported passage of the FDCPA in 1977, fought to bring collection attorneys within the confines of the law in 1986, and earlier this year introduced guidelines to help collectors and purchasers of healthcare debt align their practices with the care-driven mission of their healthcare provider clients. The updated code of ethics strengthens our platform of balancing consumers' rights and collectors' responsibilities."

Approval of the new code marks the culmination of 18 months of hard work by the ACA Executive Committee, the ACA Ethics Committee and a task force of ACA members appointed by the association's executive officers. Development of the code included an ACA Board comment period followed by a month-long public comment period, during which the drafted code was available for review on ACA's Web site. Feedback from ACA members and the public was incorporated into the final draft approved by the ACA Board on July 25.

Detailed information regarding new code of ethics provisions and their effect on ACA members will appear on ACA Online over the next several weeks and in the September issue of Collector magazine. However, all ACA members are encouraged to review the code as soon as possible.