AACCP members, which include the country’s largest credit repair organizations, take very seriously the responsibility that comes from being the only consumer advocates helping Americans navigate an overly-complex credit reporting ecosystem. AACCP’s board has formally adopted a Code of Conduct for Credit Repair Organizations that includes a robust set of commitments for existing and prospective AACCP members. These standards endorse and codify long standing industry best practices already followed by AACCP members.
Each AACCP Member that is a credit repair organization (CRO), and each AACCP Member who is an individual employed by a CRO, agrees to comply with all of the following standards:
- Ensure compliance with all federal and state laws including, but not limited to: the Credit Repair Organizations Act (CROA), State Mini-CROAs, Unfair Deceptive Acts and Practices (UDAP) laws, the Telephone Consumer Protection Act (TCPA), and Controlling the Assault of Non-Solicited Pornography and Marketing Act (CAN- SPAM).
- Create all sales, marketing and servicing communications in compliance with Federal Trade Commission (FTC) guidelines.
- Write and execute consumer agreements consistent with federal and state consumer protection requirements, which include a consumer’s right to cancel and a minimum of a three-day rescission period.
- Speak truthfully about the business relationship with the credit reporting agencies; there is no exclusivity between credit repair organizations and any credit reporting agency.
- Speak about the credit reporting agencies truthfully, and neither malign nor mischaracterize them.
- Inform consumers they have the right to repair their own credit.
- Authenticate a consumer’s identity and permission prior to obtaining credit reports.
- Assess each consumer’s situation to ensure the services offered are appropriate.
- Promise consumers the credit repair organization will work on the consumer’s behalf, but never promise a specific result or outcome.
- Only send interventions on a consumer’s behalf for inaccurate, unsubstantiated or unfairly reported tradelines.
- Deliver services prior to billing consumer.
- Implement appropriate security measures to keep confidential and sensitive information secure.
- Will not file complaints on behalf of consumers with any governmental agencies or representatives, such as the Consumer Financial Protection Bureau (CFPB), federal or state Attorney General, or regulatory officials.