BillingTree with Inside Arm conducted a survey earlier this year from our newsletter subscribers of collection agency operations professionals.
In this Benchmark Survey Report, we first examine targeted industry segments and related growth trends according to the size of the agency. Secondly, we explore agencies’ specific strategies to achieving growth within these segments and to overcoming the challenges they cited as the most threatening to achieving those goals. Finally, we examine agency attitudes toward payment technology and automation, and discuss how automation poses a solution to the dual challenge of driving operational efficiency and innovation while protecting the organization from compliance risk.
Limit your risk by ensuring electronic payments are being handled properly at your organization. With confusion surrounding the rules for accepting payments electronically and over the phone, and regarding consumer authorization, it’s important you understand how payments are being handled at your company to ensure compliance and prevent risk. This 90-minute seminar provides a basic overview of the requirements relating to electronic payments. ACA International Vice President and General Counsel, Rob Föehl, Esq., speaks about:
- The requirements of the Electronic Fund Transfer Act and Regulation E.
- Preauthorized electronic fund transfers.
- Checks by phone and remotely created checks.
- The different types of National Automated Clearing House Association (NACHA) entries and applicable requirements.
- Impact of the Check Clearing for the 21st Century Act (Check 21).