Economy

Profits For 2020 Up at Encore Capital Group

Profits for all of 2020 were up at Encore Capital Group even though it made less money in the fourth quarter than it did in the same period a year earlier, according to the company’s quarterly financials that were released yesterday. Even though the company spent 34% less on portfolio …

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Guest Post: Shore Up Your Collection Strategy for the Post-Pandemic Economy

EDITOR’S NOTE: The following article was originally published by Jamie Welsh at Harvest Strategy Group and is re-published here with the company’s permission. Charge-off rates on nearly all consumer loan products ended 2020 at historical lows as Americans adjusted their spending habits taking advantage of stimulus payments and overall new-found liquidity. Creditors have benefitted …

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Consumers Living in Low-Income Neighborhoods Less Likely to Receive Financial Restitution When Complaining to CFPB: Study

During the past four years, coincidentally linked with the start of the Trump administration, complaints filed by individuals with the Consumer Financial Protection Bureau that were resolved with the consumer receiving some form of financial restitution declined in neighborhoods where the majority of residents were minorities, according to a research …

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Consumers’ Financial Fragility Remains Perilous

Data that was released this week by the Federal Reserve Board of New York reminded me of a great line I remember from the original “Men in Black.” Tommy Lee Jones is trying to explain to Will Smith why everyone in the world has not been told that there are …

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Report Projects More Collection Activity in 2021

The collections industry continues to contract and 2020 was a tough year for a lot of companies, but there may be brighter days on the horizon, according to a report released yesterday by TransUnion. The credit reporting agency, in partnership with Aite Group, released a report that predicted the number …

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