Sept./Oct. 2009
Karolyn Rubin: Third Female President in ACA's 70-Year History
Recently elected president of ACA International, The Association of Credit and Collection Professionals, Karolyn Rubin addressed the ACA International annual convention in Las Vegas in July. President Rubin used the analogy of how a runner needs the support of others to be successful. An avid runner, she used this analogy in her speech to thank all the people who helped make her ascent to the presidency of ACA possible. Most touching was when she remembered asking her son, Rudy, who replied, "Who am I to quash your dreams?"
Rubin has never been afraid of a challenge. She is a single mom, accomplished marathoner and recipient of many industry awards, including ACA International Instructor of the Year.
"It's an honor to be selected by my peers to this position," said Rubin, who is senior vice president of Bonded Collection Corporation in Chicago, IL. "I'm grateful for the opportunity and excited to lead my fellow members of ACA International. Regardless of the contributions each of us can make on our own, no one individual can move this industry forward alone. Working together with my peers will make the difference. Our industry continues to grow and is a key pillar of the global economy. As a longtime teacher and professional within this industry, I'm excited to take my passion for education — for consumers, policymakers, regulators and industry professionals — to a new level."
Rubin is a certified ACA instructor who has taught 34 different classes to more than 1,000 students. She also is a past president of the Illinois Collectors Association (ICA).
Rubin, who has been at Bonded Collection Corporation for more than 23 years, said it is an honor to follow in the footsteps of ACA International's past two female presidents — Linda Russell (1991/92) and Nancy Borgen (2001/02).
"Women like Linda and Nancy have long been involved as leaders and visionaries in our industry," Rubin said. "And they have inspired others like me to follow in their footsteps."
Karolyn's father, Remey Rubin, is president of Bonded Collection Corporation, a leader in debt recovery for more than 50 years. He is a past president and director of the International Association of Commercial Collections (IACC).
President Rubin went straight to work rallying members of Congress to determine whether the financial services industry, including the debt collection industry, should be regulated by a new governmental entity called the Consumer Financial Protection Agency (CFPA). Legislation under consideration by the House would likely transfer rulemaking, policymaking and possibly enforcement authority of the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) from the Federal Trade Commission (FTC) to the new CFPA.
In December 2008, ACA President Jay Gonsalves seated a Self Regulatory Organization Research Task Force to determine the viability of creating a self regulatory organization (SRO) for the collection and debt purchasing industry. The SRO Research Task Force recommended that the executive committee seek to create a Debt Collector Registry and National Debt Collection Dispute Resolution Program.
Rubin will lead the board of directors of ACA in addressing the concerns of Congress, the Federal Trade Commission, state attorneys general, state regulators and consumer groups regarding the growing number of complaints received about the collection and debt purchasing industry. Based on the U.S. Treasury Financial Regulatory Reform proposal and the CFPA legislation being reviewed by Congress, there is a movement for the government to develop a registry for the industry and a complaint resolution program. ACA has the opportunity to proactively be part of Congress' solution.
The Debt Collector Registry concept would require all entities, including individuals, who fall within the definition of debt collector under the FDCPA or state law to register as a debt collector and pay an annual registration fee that is yet to be determined. The individual debt collector would be required to take and pass an exam evidencing his or her knowledge of the laws regulating the industry in order to be eligible for registration.
The National Debt Collection Dispute Resolution Program would be responsible for working to resolve any complaints filed by consumers against collection agencies and individual debt collectors and debt purchasers. The intent of the dispute resolution program is to have the FTC, state attorneys general and state regulators forward the complaints they receive to the program for resolution. The Dispute Resolution Program would provide mediation and arbitration services for the debt collection and debt purchasing industry.
"Our members couldn't be more thrilled that Karolyn has agreed to step into this leadership position at such a critical time," said Gary Rippentrop, ACA International's CEO. "With the state of the economy, ever-changing communication methods and the expansion of this industry, Karolyn is the perfect person to be leading our association."