In this case study you’ll hear why BBVA built a new model of collections for its delinquent borrowers, what went into creating this self-service offering and how it has fared. You’ll also learn about next steps for this project that are being considered, and the director of collections & recovery’s basic thoughts on the future of collections.

The Consumer Financial Protection Bureau made it official last year that larger debt collection entities (e.g., agencies, debt buyers, attorneys) will come under federal supervision for the first time beginning Jan. 2, when they will begin oversight. With the world of third party debt collections changing rapidly, we as an industry are all trying to determine what standards we need to comply with and how to best prepare. In response, many of the largest lenders are aggressively re-tooling their Vendor Management Programs based upon the premise that they are required to monitor/control external vendors as closely as their own internal operations. The impacts of this will be felt across the entire industry and not just by the larger players. This session will provide participants with real-time cross industry perspectives on what key stakeholders are doing to proactively prepare for and address these new regulatory/control requirements.

• Current and future volume trends for Private Student Loans • New tools for curing delinquency that work for performance, the OCC, and the CFPB • Navigating the new regulatory guidelines of both the student and collections Collection and recovery strategies specific to Private Student Loans • What to expect in the debt sale market for student loans • Key considerations in working with high risk for-profit school portfolios

‘Encore recently completed a psychographic field study that revealed significant differences between prime and subprime consumers in the areas of financial knowledge, planning myopia, and decision-making behavior. The results have important implications about how to describe, understand, and resolve consumer financial distress within the collection process. The study findings will be discussed and applications to business strategy and public policy will be explored