DBA International Updates its Code of Ethics
The Code of Ethics Governs the Professional Conduct and Behavior Expected of its Members and Their Employees/Agents
SACRAMENTO, Calif. (August 18, 2015) – DBA International, the nonprofit trade association representing the purchased receivables secondary market, announced a major update to its Code of Ethics which was adopted at its August 13, 2015 Board Meeting. The comprehensive update adds clarity to the industry’s rigorous ethical standards while seamlessly integrating the consumer protections contained in DBA International’s Receivables Management Certification Program.
Manifested through its Code of Ethics and its Certification Program, DBA International member companies agree to assume an obligation of self-discipline that goes above and beyond the requirements of existing state and federal laws and regulations.
“DBA International is very cognizant of the important role it plays in ensuring a high functioning and ethical secondary market for purchased receivables. With an increasing number of originating creditors, regulators, and consumers speaking in support of DBA’s Certification Program, the DBA Board of Directors wanted to acknowledge that trust by ensuring its Code of Ethics would complement our self-regulatory structure” said Board President Kaye Dreifuerst.
“Perhaps one of the most important changes in the updated Code of Ethics is the added clarity surrounding the vital role played by employees and vendors of DBA International Member Companies in ensuring a high ethical culture within the industry” said DBA Executive Director Jan Stieger. “This update was intended to directly reflect the same high standards DBA certified companies are held to in the training and oversight of their employee and vendor networks.”
In addition to the enhancements made in the eight Canons contained within DBA’s Code of Ethics, DBA is also providing a “commentary” section designed to provide guidance on complying with the Canons. The “commentary” section will be updated on a regular basis to incorporate guidance on evolving best practices.