DBA International, the non-profit trade association that represents the debt buying industry, is currently in the process of performing an in-depth review the 162-page report issued by the Federal Trade Commission entitled “The Structure and Practices of the Debt Buying Industry.”
The association issued a brief statement on Thursday:
"DBA appreciates the time and effort taken by the FTC to gain a better understanding of the debt buying industry. We agree with the FTC that consumers should have a clear understanding of the credit and collections industries and of their rights. DBA also appreciates the reference in the FTC report to DBA’s proposed Debt Buyer Certification Program that will require Certified Debt Buyers to comply with 19 uniform standards.
"Next week, DBA's membership will be voting to approve the creation of the industry's first certification program. If passed, the certification program will be an important step toward making sure that debt buying industry subscribes to a consistent set of rules and standards that represent the best practices of our industry."