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Redefining Collections with ConServeDoing the Right Thing, at the Right Time, the Right Way has enabled ConServe to set the industry standard for ethics and compliance. Understandably,
financial editors were compelled to consult Mark E. Davitt, a nationally recognized leader in the debt collection industry, to get a sense of how new rules and regulations might impact the business in light of the increased scrutiny on debt collection practices. Davitt is a 35-year veteran in the field and President/CEO of Continental Service Group, Inc., d/b/a ConServe, in Western New York, a top-performing collection agency on the federal government’s collection contracts. A former President of ACA International, he served on that organization’s Ethics and Professional Responsibility Committee.Q: What sets ConServe apart in the Accounts Receivable Management industry? Davitt: “Fostering Financial Freedom®” through ethics, compliance and Client service distinguishes us from our competition. ConServe has earned both the Best Places to Work in Collections and Business Ethics Award honors. Repeatedly included on the Inc. 5000 list of fastest-growing private companies providing exceptional Client value, earning the Greater Rochester Quality Council (GRQC) Customer Excellence Award and ranked as a top performer by the U.S. Federal Government has catapulted ConServe’s progress. ConServe has an outstanding record for recovering debt while simultaneously protecting the reputation of our Clients—we become an extension of our Client’s brand. The heightened focus on regulation won’t change our business model because we have always committed ourselves to the highest ethical standards. Q: Will the anticipated impact of the CFPB result in ConServe changing any of its current business practices with regard to compliance? Davitt: We anticipate greater accountability and documentation requirements on debt collection activities. This will significantly increasethe cost of compliance in all collection efforts and undeniably expose areas that are not in full compliance with regulatory standards. Increased accountability, both personally and with regard to business records, reinforces ConServe’s mission to mutually benefit our Clients and consumers alike and will lead to positive changes in the collection industry. At ConServe, our Compliance Management System (CMS) upholds multiple compliance accreditations: FISMA Compliance and the ACA International Professional Practices Management System (PPMS) certification as well as accreditation by the BBB. Overall, ConServe supports the CFPB’s increased emphasis oncompliance and regulatory scrutiny as a positive initiative in the industry: one that aligns itself with the fundamental infrastructure and operating principles supported by ConServe. Q: What markets does ConServe target for its receivables solutions? Davitt: We made our mark in the higher education field and have now positioned ourselves to be a preferred choice for Fortune 500 enterprises, commercial banks, retailers and the U.S. Government. ConServe expects continued growth as more Clients turn to us as a trusted industry advisor to help them navigate changes, reduce their own risks and outsource their receivables management needs to our company.
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