Collections executives must navigate an increasingly complex world where debt settlement and debt resolution are evolving to meet the demands of digital-savvy consumers. The traditional methods are making way for innovative solutions, including partnerships with debt settlement companies and the integration of financial apps as powerful collections channels. Moreover, unpredictable changes in federal and state regulations will demand adaptability and foresight from industry leaders. In this article, we will delve into the top ten predictions that will shape the future of the collections industry, equipping executives with the insights needed to maintain a competitive edge. Read about other trends here.
It was reported last night that the CFPB had laid off about 90% of its staff. This came on the heels of the CFPB providing each of its employees with its 2025 Supervisory and Enforcement Priorities which calls for a much narrower mission for the CFPB than under former Director Chopra.
The Consumer Financial Protection Bureau (CFPB or Bureau) is undergoing significant changes as the Trump administration implements sweeping layoffs just days after revising the Bureau’s regulatory priorities. According to reports, approximately 1,400-1,500 employees have received reduction-in-force notices, leaving the CFPB with just over 200 personnel to carry out its regulatory activities. This drastic reduction raises critical questions about the agency’s ability to effectively focus on its newly outlined priorities for 2025.
In today’s increasingly litigious environment, accounts receivable management professionals face a minefield of regulatory challenges and legal exposures. As lawsuit filings surge across key states, understanding emerging claim patterns has never been more critical for industry survival. Drawing on data from their decade-long partnership serving ACA members, QBE North America and Collectors Insurance Agency have uncovered some trends that every collection professional should know to protect their business and maintain compliance in this high-risk landscape.
Not every reward needs to be glamorous to be meaningful. Years ago, early in my career, I earned a set of garden tools through a performance incentive program. It wasn’t a bonus check or a flashy plaque—but to this day, I still remember that heavy-duty rake, shovel, and trowel with ergonomic grips and a matching carrying bag. Why? Because it felt personal. It was tied to real effort, it was something I genuinely liked, and it showed that someone thought about what would make the reward memorable.
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