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Overview of Developments in the U.S. ARM Industry

Presentation for the 2015 ICG Conference

Kaulkin Ginsberg

on 25 June 2015

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Transcript of Overview of Developments in the U.S. ARM Industry

Regulatory Update
1. New York State collection requirements
Leading Economic Indicators
What to Watch
A strong wave of consolidation among small and mid-sized collection agencies
Overview of Developments in the U.S. ARM Industry
Market Segments
Mike Ginsberg
President and CEO, Kaulkin Ginsberg

1. Regulatory Update

2. Market Segment Updates

3. Leading Economic Indicators

4. Predictions: What to Watch
More consumers will wind up in collections and the average accounts balance will increase overall
More cross-border expansion
Increased emphasis on compliance a boon to tech vendors
Overbearing compliance requirements will continue to challenge debt buying
Fewer successful start-ups will emerge
Kaulkin Ginsberg also started using
the University of Michigan's index
to track consumer confidence.
Unemployment remains the most critical economic indicator for ARM companies.
This will be a major topic of discussion during the 2016 presidential race
Nearly 3 million jobs were created in 2014
Watch policies designed to improve the quality of jobs, wages and hours worked
Department of Education
Consumer Credit Market
On average, delinquency rates continue to fall
Credit card and auto delinquency are a major area of focus for financial services
The mortgage market is still by far the largest market in financial services
Subprime Credit
Borrowing Rebounds
Banks and credit card companies issued 3.7 million credit cards to subprime borrowers in Q1
39% jump from a year earlier, the most since 2008
Capital One - 1/3 of its U.S. credit card balances belong to borrowers with FICO scores of 660 or lower, or had no score by Q1
Wells Fargo - more than $2.1 billion in credit card balances with borrowers whose FICO scores ranged from 600-639 in Q1
Health Care
The Affordable Care Act created a growing market for uncollectible debt
Three of the largest health insurance providers have significant increases in their allowance for doubtful accounts
RCM has become an integral component to health care provider operations
State and Local Government
Where is all of this heading?
Chaos started unfolding in March
The hottest topic in the U.S. right now
This is the biggest growth market
Total yields from unpaid assessments increased by $1 billion between 2013 and 2014, according to an IRS report
More states than ever are outsourcing to third-party collectors
1. Unemployment
2. Consumer Confidence
2. IRS 501(r) requirements
3. New rules for credit reporting
"Market segments expand and contact, but the U.S. remains a vibrant credit economy."
Full transcript