|By Jack Sullivan|
A recent Credit Union Times article, along with Bloomberg, Business Insider, and Financial Times, all agree that the most sobering recession warning in twelve years occurred as the differential between the three-month and 10-year Treasury yields, a relationship known as the yield curve (the market’s preferred recession barometer) on Monday inverted to its widest level since 2007 driven by escalated trade-war tensions between the U.S. and China.
Recessions usually signal more and tougher work for financial institutions and their collections operation as delinquency rates surge. It makes sense to ascertain that your FI has the scalability to shoulder the added collections workload brought on by a recession. It’s also a good idea to make sure your FI’s debt collections software is the most effective, efficient and affordable solution available.
Contact Jack Sullivan today to review your collections operation.