While the Federal Oversight Committee is in a battle amongst themselves, their issues have trickled down to merchants and consumers. What is not broadcast to the public is that there is a lot of in-fighting within congress – in-fighting within parties. This creates more chaos in an already chaotic environment, and it complicates any progress that could be made.
The biggest issue right now, though, surrounds the fact that the Fed’s dual roles as regulator and enforcer. This makes little sense to most who know if the arrangement, but it is the way that the Federal government sees fit to operate the New York Federal Reserve. While many corporate big-wigs wear many hats, it is odd that this happens at such as prestigious – and powerful – level. Congress’s take is that something needs to change, that the Fed needs to “wake up” and get their matters together before another collapse happens. One of these matters is the changing regulations facing the collections agency, which the Fed has not yet implemented yet. Due to their slow approach to everything, these changes may not happen in the near future.
This is a big deal with you are a collection agency merchant. While the vast majority are honest and reputable, some are not, and they can cost the entire industry. One major way they can cost the industry is by making it hard to find a collection agency merchant account. This is because their bad behavior has consequences, and those consequences have labeled the industry as “high risk”. You need a high risk merchant account provider, but you need to make sure that they are experienced in dealing with collection agency merchant accounts.
With eMerchantBroker.com, your accounts are safe. We know that there are risks involved with being a collection agency merchant, and we are here to help you. While others may dump your account after a fraudulent charge, we will not. In fact, we offer a chargeback suite that helps you figure out if the charge is in fact fraudulent. If you are a collection agency merchant and are in need of an experienced and reliable merchant account, look no further than eMerchantBroker.com.