AADR Backs Federal Data Privacy Initiative
23 Mayo 2024 - 9:00AM
Business Wire
In light of today’s House Energy and Commerce Committee markup
of the American Privacy Rights Act (APRA), the American Association
for Debt Resolution (AADR) stressed the importance for consumers
and for debt resolution providers of a federal data privacy
framework that would provide consistent and uniform privacy data
requirements across the country. With the proliferation of digital
transactions and the increasing reliance on technology by debt
resolution companies that settle nearly $2 billion of unsecured
consumer debt annually, it is critical to establish clear and
consistent data privacy guidelines that protect consumers and
foster trust.
"As the debt resolution industry continues to evolve in the
digital age, ensuring the privacy and security of consumer data is
paramount," said AADR CEO Denise Dunckel Morse. "A federal
data privacy framework will streamline compliance efforts for debt
resolution providers and benefit consumers by enhancing data
protection measures."
The current hodgepodge of state data privacy laws poses
significant challenges for debt resolution providers, who operate
across multiple jurisdictions. A uniform federal standard will
simplify compliance efforts and facilitate greater consistency in
data protection practices.
AADR remains committed to advocating for policies that
prioritize consumer protection while supporting innovation and
competition in the debt resolution space.
About the American Association for Debt Resolution
The American Association for Debt Resolution (AADR), formerly
the American Fair Credit Council (AFCC), is the national
association of the debt resolution industry. The AADR is committed
to educating consumers and policymakers about debt resolution and
its benefits, holding debt resolution companies to the highest
standards, and protecting and expanding access to accredited debt
resolution services nationwide. AADR member companies must abide by
the organization’s industry standards and be accredited biannually
by an independent auditor.
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