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The Economy

Since the economic downturn began in the U.S. in 2008, the fortunes of ARM companies have largely mirrored the broader business environment. Debt collection agencies are particularly susceptible to high unemployment, inflated consumer bankruptcies, and plummeting housing pricing. Combined with a general tightening of credit standards, the ARM industry is more tied to macroeconomic trends than ever before.

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Credit Card Markets Rebound as U.S. Economy Improves

The U.S. credit card market bounced back in the second quarter as the economy improved, according to the American Bankers Association’s December 2014 Credit Card Market Monitor report. The number of new accounts increased and monthly purchase volumes picked up, while the distribution of accounts resumed its shift away from “revolvers” who carry balances month-to-month.

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Big Shifts in Debt by Age: A Very Literal Interpretation of Knowing Your Debtor

A recent credit report study from TransUnion found that the composition of loans that people typically carry has materially changed for both the youngest and oldest segments of the population during the last decade. Not only did economic forces prompt change, but general demographic shifts have changed the composition of outstanding credit among different age groups in the U.S.

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Consumer Relations Consortium Sponsors 43rd Annual Consumer-Action Awards Event

Last week I attended Consumer-Action’s 43rd Annual Awards Event, along with Rob Meck, CEO of Premiere Credit and Tim Heber, Compliance Officer of FIS Global. We represented the Consumer Relations Consortium (CRC), which was a sponsor of the event along with Google, CapitalOne, Credit.com, TracFone, Amazon, AT&T, Microsoft, and Time Warner Cable.