FENCA welcomes that a political agreement was found on the Data Protection Regulation on 15th December 2015 and expresses its readiness to work with the European and national institutions on their implementation.
Andreas Aumüller, President of FENCA states: “After many years of negotiations it is important that we finally have a single set of rules governing data protection for citizens and businesses across Europe, and we would like to congratulate the Commission, the Parliament and the Council for all their efforts.”
“There are, however, some areas of the GDPR which need further clarification to make sure that the debt collection and claims management sector can continue to provide its valuable services to SMEs and larger companies, reintroducing over 55 billion Euros of outstanding claims into the European economy every year”, Aumüller adds.
During the implementation process – expected to be finished by January 2018 – FENCA intends to work together with the European and national data protection authorities to make sure that the new rules enable the same high standards of handling personal data in claims management and debt collection as before, without undue hindering of the business model or the intrusion of the rights of the individual.
In particular the balance between the interests of the creditor and the handling of data of a client in debt need to be clarified further. These include the legitimate interests of the creditor for further processing of personal data in cases where there is a legitimate claim.
FENCA is positive that a solution can be found that satisfies both, the need for a functioning claims management and debt collection sector and for the protection of the data of the individual.
The Federation of European National Collection Association (FENCA) was founded in 1993. FENCA represents the interest of the European receivables management sector and coordinates the exchange and collaboration with the institutions of the European Union and the European public. FENCA’s 23 members represent more than 75 percent of all debt collection agencies and hold 80 percent of the market share in the EU, with well over 75,000 staff providing services for more than five million clients. The European credit management and debt-collecting sector re-injects between 45 and 55 billion Euros of valid claims into the economy each year, thereby securing above all the liquidity of micro, small and medium enterprises in the EU.