Why Performance Audits of Collection Vendors Matter 

When it comes to oversight of third-party collection vendors, most creditors naturally focus on the standards: compliance, data security, and proper payment processing. These are critical boxes to check—no question. But while compliance ensures safety, it doesn’t guarantee success.  To truly understand whether your collection partner is working effectively on your behalf, you need to look beyond compliance. You need to evaluate performance.  Beyond Compliance: Measuring What Matters  A vendor […]

Text Me If You Can: Make Every Message Count 

When I started my first job as a collector, “mobile” meant the phone had a cord long enough to stretch into another room. Cell phones weren’t even a thing yet. If you needed to reach a delinquent customer, you had exactly two options: pick up the phone or drop a letter in the mail.  And here’s the funny thing: even back then, very few people actually answered the phone. When […]

Social Media Influencers Promote False Claims About “Free Money” from Zelle and Cash App 

A new trend has emerged on social media platforms like TikTok, where influencers are promoting misleading claims about receiving “free money” from payment platforms such as Zelle and Cash App. These influencers are suggesting that filing complaints with the Consumer Financial Protection Bureau (CFPB) will lead to automatic payouts from these companies, even for individuals who were not victims of scams.  These influencers are profiting from the situation by selling […]

The Ripple Effect of the Tricolor Bankruptcy on Repossession Agents 

Most people don’t stop to think about what it really takes to run a repossession company. From the outside, it may look straightforward—an agent locates a vehicle, tows it away, and gets paid. Simple, right? Not quite. The reality is far more complex and far more expensive. Repossession agents are typically only compensated when collateral is successfully recovered. If they spend hours running an account but can’t locate the vehicle, […]

From Fantasy Football Owners to Collector Coaches: The Value of Consistent Call Monitoring

My favorite time of year has arrived—football season. That glorious time when hope is sky-high one minute and jerseys are halfway to the bonfire the next. After the Detroit Lions’ opening game against the Packers, the headlines made it sound like the season was already over and the team should start scouting for the first pick in the draft. Of course, the very next game told a completely different story—because […]

Tricolor Holdings Bankruptcy Highlights Strains in Subprime Auto Lending 

The abrupt bankruptcy of Tricolor Holdings last week has shaken the financial services sector, exposing cracks in the subprime auto lending industry and sparking broader economic concerns. The Collapse  On September 10, the Dallas-based used car retailer and subprime auto lender filed for Chapter 7 bankruptcy, signaling liquidation rather than reorganization. Operating 65 dealerships across six states, Tricolor was known for catering to Hispanic immigrants and other underserved communities. Its […]

Trump Executive Order Prompts OCC Guidance on Fair Banking Access

In early August, President Donald J. Trump signed an Executive Order aimed at preventing financial institutions from denying or restricting services based on political or religious beliefs or lawful business activities. The measure, titled “Guaranteeing Fair Banking for All Americans,” directs federal regulators to eliminate what the administration calls “politicized or unlawful debanking.” On September 8, the Office of the Comptroller of the Currency (OCC) followed up by issuing a […]

FTC Opens Public Inquiry on Employer Noncompete Agreements

Last week, the Federal Trade Commission (FTC) announced the launch of a public inquiry to examine the scope, prevalence, and impact of employer noncompete agreements. The information gathered may help guide the agency’s future enforcement actions.  A noncompete agreement is a contractual clause between an employer and an employee that restricts the employee from working for a competitor or starting a competing business after leaving their job. While such agreements […]

Appeals Court Allows FTC Commissioner’s Temporary Reinstatement 

The D.C. Circuit Court of Appeals has ruled that Federal Trade Commission (FTC) commissioner Rebecca Kelly Slaughter can be temporarily reinstated following her dismissal earlier this year.  Slaughter, along with Commissioner Alvaro Bedoya, was removed from her position in March. Their dismissals were challenged on the grounds that they violated the Federal Trade Commission Act and a 1935 Supreme Court decision that protects officials serving in independent agencies. Bedoya was […]

Five Things I Learned During Call Monitoring That Had Nothing To Do With the Call 

I’ve been monitoring collection calls for over 30 years—sometimes sitting side-by-side with collectors, other times reviewing recorded calls. Along the way, I’ve picked up countless insights. But here’s the funny thing: many of the biggest lessons I’ve learned had nothing to do with the quality of the call itself.  Instead, they were tied to technology glitches, office culture, or management oversights that quietly shaped the customer and employee experience. Here […]