Latest version of the commercial credit industry's policy priorities includes updated section on consumer and commercial credit reporting and all-new construction law positions.
Columbia, MD: May 13, 2014âThe National Association of Credit Management (NACM) released the latest edition of its Legislative Introduction and Issue Brief today, in conjunction with National Small Business Week. In addition to reiterating its suggested reforms to make the Chapter 11 bankruptcy process work better for commercial trade creditors and smaller companies, NACM's 2014 Issue Brief also includes an updated, expanded section on the important differences between consumer and commercial credit reporting and an all-new section detailing NACM's first-ever positions on reforming construction law in order to better enable small businesses to participate and grow through both public and private construction projects.
"During Small Business Week last year, NACM released the 'Commercial Credit Reporting: What Every Company Needs to Know' fact sheet, which was designed to give smaller companies the information they needed to manage and grow their company's own commercial credit profile, and how this type of credit differs from its consumer counterpart," said NACM President Robin Schauseil, CAE. "This year NACM's Issue Brief charges lawmakers to recognize these same differences, so that when they attempt to enact legislation that regulates the vital resource of business credit information, they do so in such a way that doesn't limit the exchange of this data, which does nothing less than fuel the majority of business commerce."