LAS VEGAS — For the past few years, members of the debt buying industry have maintained an outlook of cautious optimism that there were good days ahead and that the days of dwindling supply and tougher market conditions were fading into the rearview mirror.
That outlook appears to have been upgraded this year, judging by the mood of attendees at the Receivables Management Association’s 21st annual conference, which kicked off here yesterday.
Walking around the first day of the three-day convention, conversations were upbeat, jovial, and there were plenty of smiles in the hallways, in the session rooms, and in the exhibit hall during the opening night reception.
One attendee said that while 2017 may have not been the best year ever, it was better than 2016 and early signs were showing that this year was going to be even better. “Last year’s event was all doom and gloom,” he said. “I’m not seeing any of that this year.”
Another attendee, who said he has not been to the conference in a number of years, mentioned that the “vibe” was a lot more optimistic than the last time he attended the event.
While attendees and exhibitors feel the industry has turned a corner, there are still some concerns about how the changing compliance environment is changing the industry.
“Everyone is concerned about what the [Consumer Financial Protection Bureau] is going to do,” under a new leader, said one lawyer. “I think that you’re going to see a lot more activity from state attorneys general.”
