Tulsa, Okla., February 13, 2025 —  Global has long held the view that robust compliance is not merely a cost of doing business – it’s the bedrock of a sustainable, reputable debt settlement industry. It’s the key to building consumer trust, fostering positive relationships with regulators, and ultimately ensuring the industry’s long-term viability. As the debt settlement industry contemplates a potential reduction in CFPB enforcement, it presents the opportunity to build upon the industry’s responsible business practices even without the perceived risk of increased enforcement activity.

• While the CFPB’s focus may be shifting, the need for consumer protection remains paramount.
• The debt settlement industry has worked hard to overcome past perceptions and build a more positive image. A continued proactive approach to compliance is the best defense against any erosion of that positive image. Maintaining a strong compliance posture protects consumers, builds industry trust, and ensures long-term stability.
• Building and maintaining a strong culture of compliance isn’t just about avoiding regulatory issues; it’s about building a stronger business. Companies prioritizing compliance are better equipped to adapt to future regulatory changes, attract and retain top talent, and foster stronger relationships with partners. It’s an investment in long-term success.

This perceived lull in federal enforcement is an opportunity for the industry to maintain its commitment to ethical practices and consumer protection. Now is the time to:

• Review and strengthen compliance programs: Proactively assess current policies, procedures, and training programs. Identify areas for improvement and implement necessary changes.
• Invest in technology and training: Leverage technology to automate compliance tasks, monitor performance, and ensure consistent adherence to regulations. Invest in ongoing training for staff to keep them up-to-date on best practices and regulatory requirements.
• Foster a culture of compliance: Communicate the importance of compliance to all employees and create a culture where compliance is part of the company DNA.
• Continue state-level efforts: Expand the industry’s education efforts on a state level, working together to ensure the compliance structures in place are well understood and support consumers.
• Work with partners who value compliance: Teaming with companies who have a longstanding commitment and demonstrated track record of working with regulators and industry leaders to enhance regulatory compliance, and who can help you maintain compliance, can maintain and improve your overall readiness.

Global believes this change presents an opportunity to build a stronger, more sustainable debt settlement industry. By embracing a proactive approach to compliance, the industry can demonstrate its commitment to responsible practices, build consumer trust, and create a future where the industry continues to grow and strengthen. The companies that embrace this philosophy will continue to flourish in the evolving regulatory landscape. At Global, we take pride in our unwavering commitment to the highest compliance standards, ensuring a secure and transparent environment for our clients and partners. Our rigorous compliance framework protects consumers and fosters long-term success for our debt settlement partners. Working with Global means partnering with a leader dedicated to integrity, risk management, and sustainable industry growth—because we believe that doing the right thing is the best foundation for lasting success.

About Global Holdings LLC
Global Holdings LLC was founded in 2003 by a team of payment-processing industry veterans and is now the leading payment processor for the consumer debt-relief market. Leveraging a robust technology platform and artificial intelligence, Global is setting the industry standard for today and tomorrow. For more information visit www.ghllc.com or follow us on LinkedIn.