As an auditor, I’ve had the unique opportunity to observe the dynamics between creditors and collection agencies. What I’ve learned is this: being a good client isn’t just about offering the highest commission rate. If you want to build strong, mutually beneficial relationships with collection agencies and ensure that your accounts receive the attention they deserve, there are several factors to consider.
As previously reported, the Economic Growth, Regulatory Relief, and Consumer Protection Act (Act), enacted in 2018, directs the CFPB to prescribe regulations that apply Truth in Lending Act (TILA) ability-to-repay (ATR) requirements to Property Assessed Clean Energy (PACE) transactions, and apply the TILA civil liability provisions to violations of the requirements. The CFPB recently issued a final rule that more broadly applies TILA requirements, with certain revisions and exemptions, to PACE transactions. The final rule is effective March 1, 2026.
As an employee of a major credit issuer, I led collection teams responsible for recovering debts for the Bank. The Bank maintained that these teams were not classified as debt collectors under the FDCPA. However, our collection strategy adhered to FDCPA guidelines to ensure fair treatment of consumers. At the time, I believed that transitioning to full compliance with the FDCPA, if required, would be relatively straightforward for our organization.
A new law giving people more control over their personal information online took effect in Nebraska Wednesday.
The Nebraska Data Privacy Act allows consumers to access, correct or delete the data companies collect about them. It also enables people to opt out of their data being sold to other companies or third parties.
Managing a team of 10 people can feel like herding cats—so imagine the complexity of overseeing more than 400 repossession agents. Ensuring compliance, efficiency, and accountability at this scale requires more than just good intentions. It demands strategic oversight, the right tools, and full collaboration between creditors, national forwarders, and agents.
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