LAS VEGAS — It’s likely not a coincidence that the biggest crowd ever has descended upon Las Vegas for RMAI’s annual conference at a time when the Consumer Financial Protection Bureau’s influence over the industry is at an all-time low. But beyond the relief that is being felt across the industry, even if it ends up only being temporary, what is driving so many people to this conference appears to also be a renewed commitment to working together.
Collection law firms, creditors, debt settlement companies, and collection agencies are all seeking new relationships and are actively looking for new business opportunities, which isn’t necessarily something new for this conference, but the feeling that everyone is rowing in the same direction and that all interests are aligned could be a departure from the zero-sum dynamic that has existed in the past. A large number of debt settlement companies are in attendance, for example, and many collection operations and creditors have been seeking meetings to develop and expand relationships.
Even though there are concerns about how well consumers are holding up financially and how the economy will continue to perform through the rest of the year and beyond, at this moment in time, everything is clicking on all cylinders for the industry. Evidence of that was seen in many of the sessions held here yesterday, where speakers and attendees discussed the incremental improvements that can help boost efficiencies and bottom lines. There didn’t seem to be a call for revolution, but for evolution.
Attendance in the sessions held yesterday — standing room only in many cases — seemed to be higher than in years past, further illustrating the commitment to improving operations and looking for opportunities to be more efficient.
