The Institute for Collections Leadership, a group of large collection agencies, has retained a public affairs firm to help re-brand the collections industry in the eyes of the media, regulators, lawmakers, and thought leaders from across the financial services industry and beyond.
In order to be a member of the ICL, companies must already be members of ACA International and be defined as a “large company” by the trade group.
The objective of the campaign is to “dispel misconceptions” and “advance a positive narrative,” according to a report published by ACA International.
Advancing a positive narrative includes having individuals “from some of the nation’s leading think tanks” publish articles, write editorials, and otherwise spread the word about the importance and value brought to the financial services industry by collection agencies. The public affairs group will also work on building stronger relationships with some of the more influential media outlets, such as The Wall Street Journal, Bloomberg, and Politico, to help educate the media about the value that the collections industry contributes to the American economy.
“The whole point is to have third parties say the things we’ve been saying for years,” said Lisa Im, CEO and board chair of Performant Financial Corp., and chair of the ICL. “We believe other organizations care intensely about the positive impact of our industry on the economy, on small businesses, on our contribution to great diversity in the workplace. The truth about our important contributions on many sectors of the United States’ economy and the American consumer has not been highlighted to regulators and staffers. It’s in our best interest to have these third-party partners challenging misperceptions and highlighting the facts about how ICL’s members serve a critical role for businesses and consumers.”
