Debt Buyers Grassroots Campaign
Posted By empire On March 13th, 2020 In Uncategorized
Empire was retained to defeat legislation that would have decimated the commercial debt buying industry and its 10,000 jobs in New York.
“I want to thank Empire for their efforts on behalf of our industry. Your strategy was as savvy as it was successful, and I have greatly enjoyed working with you. I could not have asked for better guides to the world of Albany. Thank you for your excellent work on behalf of the debt buyers.” ~ Christian Parker, General Counsel of Cavalry Portfolio Service.
Empire was retained to defeat legislation that would have decimated the commercial debt buying industry and its 10,000 jobs in New York.
Challenge: A coalition of member companies within the Debt Buyers Association, which businesses that purchase large volumes of debt from commercial banks were facing legislation that would have killed their industry and forced thousands of New Yorkers to lose their jobs. The legislation would have deterred lenders from extending credit to potential borrowers.
Solution: Empire created a grassroots campaign that utilized thousands of industry employees in Western New York and Lower Hudson Regions. We galvanized support from non-traditional allies including local residents and major banks such as Citibank, M&T Bank and J.P. Morgan Chase.
Result: Empire halted the passage of this legislation, which would have had an adverse impact on all financial institutions in the state that lend money. Thanks to our strong efforts this legislation was held after having passed the Assembly.