Regulatory changes and economic conditions are directly impacting the way that credit grantors, collection agencies, debt buyers, collection law firms and vendors are operating their business in the accounts receivable management (ARM) industry. Kaulkin Ginsberg, the leading strategic advisory firm in the ARM industry, shines a light on these important topics and other critical developments that are having a profound effect on collection performance now and for years to come in its latest report which is now available upon request at www.kaulkin.com (or visit the reports page).
For most recovery professionals, compliance now trumps net-back performance as their top priority in managing collection efforts. All facets of the industry are frantically revamping their organizations to adjust to the new age of Consumer Financial Protection Bureau (CFPB) oversight, the onslaught of new state compliance requirements, pending legislation and regulation at the federal level and recent enforcement actions of the Federal Trade Commission. Rozanne Andersen, the recognized authority on regulatory affairs in the ARM industry, provides an exclusive update within the midyear report that addresses the most pressing compliance issues of the past six months.
Along with intense regulatory changes, significant economic developments, including consumer de-leveraging efforts, household debt and disposable income levels, and unemployment levels, are having a profound impact on collections volumes and performance levels. The current economic climate indicates that collection performance is on an upward trajectory and moving toward sustained recovery from the greatest recession in the United States in100 years. This report addresses the reasons for this renewed optimism in collection results.
According to Mike Ginsberg, CEO of Kaulkin Ginsberg, “Recovery managers and ARM companies alike are revamping established practices real time to adapt to the “new world order” that is being imposed upon them due to economic and regulatory developments.” We are excited to provide our insights for collection professionals from all facets of the industry who are actively seeking to define their business strategy.
For more information about the ARM industry or about Kaulkin Ginsberg, contact us at email@example.com, visit www.kaulkin.com or sign up to receive The Kaulkin News Digest our semi-monthly newsletter.