Jonathan L. Pompan, co-chair of Venable's Consumer Financial Services Practice Group, and Mike Colby, Business Development Director, Second Round, LP, will be presenting "Then, Now, Forever: An Introduction to Debt Buying" at the 2019 RMAI Executive Summit.
Debt buying exists in an economy and legal landscape that constantly changes. There is no lack of new opportunities, financial models and asset classes, and regulatory developments to track and begin to understand. One key to success is to reflect on the past, explore the present, and look forward to the future. Learn how the S&L crisis of the 1980s created the need for a secondary market to liquidate the assets of these failed institutions. That early secondary market has evolved over the last 30 years to become the highly regulated ARM industry of today. From groundbreaking moments like the start of the sale of a significant amount of credit card receivables, to pioneering uses of technology to enhance collections and the CFPB's supervisory activities and proposed debt collection rules, hear what events and trends helped shape the buying, selling, and collections landscape of today and may impact tomorrow. Through case studies and trivia, this session will explore the past, present, and possible future of the sector and help prepare attendees for the in-depth sessions at the RMA Executive Summit.