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.
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