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Public image as ‘gangsters’ or ‘loan sharks’ will change with new law, say debt collectors

CNA had recently contacted our Head of Legal, Mr Israel Shankar Ganesh, and posed some questions on how these new laws and licensing framework will affect our organisation, the industry as a whole and how to tackle or circumvent the challenges that may materialize in the future. Please feel free to click on the link below to hear his insightful comments.
JMS Rogers would once again like to reiterate, at the expense of sounding like a broken record, that we as an organisation welcome these regulations to be implemented expeditiously so that entities who have adhered to the Code of Conduct strictly during their business operations would finally be able to administer their services professionally as there would be a concrete structure in the future to cohere to. The preeminent reason for the regulations to be implemented in a meteoric way, however, would be to weed out the entities that would conform to the description of “errant debt collection companies” as this will ensure that the general public has even further entrenched protection.
 
 

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