Market Overview

Enhanced Recovery Company Affirms Need for Self-Audits within ARM Industry


The CFPB has announced plans to supervise many companies within the ARM industry—a development that has won the attention of Enhanced Recovery Company.

Jacksonville, FL (PRWEB) October 31, 2012

Earlier this year, the Consumer Financial Protection Bureau announced its intentions to directly regulate and oversee some of the nation's largest debt collection companies—a development that, naturally, left many of these debt collection companies feeling shaken and uncertain. Though the Assets Receivable Management (ARM) industry has long received the scrutiny and supervision of numerous regulatory organizations and government boards, the companies in this sector are generally unaccustomed to this level of direct oversight. The development has won the attention of many companies from the ARM industry, among then the Florida-based Enhanced Recovery Company.

An ARM industry publication has noted that many debt collection agencies will doubtless receive full audits, in order to ensure total compliance with all pertinent regulations and guidelines. As such, many ARM companies are being proactive, engaging in self-audits in preparation for CFPB scrutiny.

This self-auditing trend has won the attention of Enhanced Recovery Company. The company has released a new statement to the press, affirming the importance of full compliance with CFPB and all other regulatory boards. In particular, Enhanced Recovery Company applauds the preparedness that other ARM companies are showing as they audit themselves and ensure that their internal processes are above reproach.

“We applaud our partners in the ARM industry who are taking a proactive approach to the announcement from the CFPB earlier this year that it proposed to supervise large debt collection agencies,” says the company's new press statement. “Enhanced Recovery Company is an advocate of completing unbiased self-audits and encourages all employees to self-report any possible exposure points.”

Enhanced Recovery Company's press statement also emphasizes honesty and transparency in dealings with customers. “Being transparent to our clients has also allowed for additional business benefits, which enable conversations and brainstorming regarding best practices in the industry. Knowing your vulnerabilities and taking proactive steps to correct them, through documented standard operating procedures and processes, is key to building a strong organization that is both complaint and successful. And it helps us protect our client's image and reputation.”

Enhanced Recovery Company is based in Jacksonville, and serves clients throughout the US. Though many companies within the ARM industry are stereotyped for low standards of customer care, Enhanced Recovery Company has long sought to distinguish itself by prioritizing service and seeking to ensure optimal customer experiences. The company currently employs over 400 professionals, all of them devoted to serving customers efficiently and with dignity and respect.

Enhanced Recovery Company is an Accounts Receivable Management/Collection Agency that has emerged as a truly pioneering company within its field, and a leader in the ARM industry. With its corporate headquarters in Jacksonville, Florida, combined with two other branch offices in Orange Park, Florida, and Waycross, Georgia, Enhanced Recovery Company employs over 400 people and is diverse across numerous asset classes and account types. The firm is led by a group of seasoned executives who bring exhaustive industry experience to create a collection agency that stands out for its focus on service and client satisfaction.

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