Innovation & Personalization: A Report From the First Party Summit

Last week I participated in InsideARM’s First Party Summit, the only conference that focuses on the challenges specific to first party debt collectors. It was a great opportunity for me and other Katabat leaders to share ideas and network with creditors and first-party agencies. Katabat served as a conference partnership sponsor, and our CEO Ray … Read more

Preparing for the Storm: Adopting a CFPB Rule-Change Timeline

The Consumer Financial Protection Bureau (CFPB) is currently taking public comment on its proposed rule changes that would affect the Fair Debt Collection Practices Act (FDCPA). The comment period closes on August 19, which is right around the corner, but the new rules are not likely to take effect for another 18 to 24 months. … Read more

Katabat Awarded Better Business Bureau’s Torch Award for Ethics for Demonstrating Excellence and Integrity

Katabat is honored to be one of five local Delaware companies to be awarded with the Better Business Bureau (BBB) 2019 Torch Award for Ethics. According to the BBB official press release, the Torch Awards for Ethics ¨recognizes exemplary businesses that strive to go above and beyond in their dealings with customers, employees, vendors and … Read more

The Long-Awaited CFPB Debt Collection Rule Changes—Bright Lines and Opportunity

There is no doubt that last week’s publication of proposed rules by the Consumer Financial Protection Bureau (CFPB) likely marks a long-needed tectonic shift for the debt collection industry including 1st and 3rd party debt collection agencies (DCAs). As such, it’s a bit premature to predict the many cascading effects that are likely to unfold … Read more

McKinsey & Company Points the Way to Collections Digital Transformation

While I was writing about the CFPB Annual Report and Mike D’Andrade was writing about the CBALive and LendIt Fintech conferences, we were channeling the partners at McKinsey & Company, or maybe they were channeling us. Either way, all of us seem to agree on three things: An economic downturn is on the horizon. Consumers … Read more

Katabat Becomes Affiliate Member of International Trade Association

(MINNEAPOLIS, Minn., 04/30/2019) Katabat, located at112 S French St Ste 500, Wilmington, DE 19801, has become an affiliate member of ACA International, the Association of Credit and Collection Professionals. As an affiliate member, Katabat demonstrates its commitment to supplying quality goods and services to the credit and collection industry, as well as pledging to abide … Read more

FDIC Warns on Third-Party Technology Risk

Image by Markus Spiske for rawpixel.com

Avoiding Risky Relationships by Filling in the Gaps This month the Federal Deposit Insurance Corporation (FDIC) published a financial institutions letter detailing observations and concerns related to technology service provider contracts. In a nutshell, insufficient and unclear contract terms create risks for financial institutions. More specifically, the FDIC letter highlights concerns related to business continuity … Read more