In a recent interview with Italian "Credit Village Magazine" FENCA president Erwin Falkner stressed the need for a a pan-European Code of Conduct for his industry . He referred to the General Data Protection Regulation (GDPR) which will enter into force in May 2018.

Falkner said: "The GDPR significantly changes the EU data protection landscape forcing businesses across the EU (and beyond) to review their internal procedures as to their compliance with the new rules set by the GDPR."

"FENCA wants to prepare all debt collection businesses for these upcoming changes and sees the solution in the creation of a pan-European Code of Conduct for the debt collection industry with regard to the GDPR which is to be adopted by the EU Commission as an official rule for the industry.

"Developing a Code of Conduct means to learn how the current internal processes of debt collection agencies may be conflicting with the GDPR and defining a set of rules on how these processes can be compliant with the GDPR.

"Besides these rules on data protection the Code of Conduct will also collect best practices in order to set a Standard for the debt collection industry in the EU and be recognized as a serious and reliable Partner for all stakeholders: the EU institutions, creditors and consumers."

Read the interview in full here.