| For the critical area of collections-now a primary function in retail banking-CBA has developed a forum for discussing issues and comparing best practices. Mounting economic pressures have swiftly shifted banks' focus from generating loans to preventing loan losses. This change rapidly propelled collections from the back office to the frontlines. Thanks to the work of CBA's Collections Committee, CBA maintains a special focus on the unique needs of collections officers as they discuss best practices for minimizing losses and keeping customers in their homes as loan delinquencies and defaults increase. Fast becoming one of the more creative groups in the bank, collections officers are exploring unique methods to reach out to the "new delinquent customer," who defies the traditional profile of customers who stop making loan payments. Banks now develop new approaches to customer outreach, such as customized work-out plans. Innovation often brings about regulatory road blocks. The committee assists CBA in evaluating concerns about fair lending practices regarding restructuring loan terms to keep
customers from defaulting. The committee and CBA frequently meet with regulatory agencies to discuss the challenges of reaching out to delinquent customers, and determining agency guidelines for assistance. The committee also helped CBA establish the first benchmarks for collections performance and provides guidance for CBA's research on consumer credit collections and recovery. For more information about the Collections Committee, contact David Pommerehn.
COMMITTEE MEMBERS
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Diane Dougherty
Senior Vice President
Huntington Bank
Columbus, OH J. Clarence Madore
Senior Vice President, Collection Group Manager
TD Banknorth Inc.
Falmouth, ME Lorenza (Lo) McEachin
Senior Vice President Retail Collections
U.S. Bank, Ohio
Cincinnati, OH Glenn Meadows
Senior Vice President, Consumer Collections
Regions Bank
Birmingham, AL Curt Milroy
Senior Vice President, Call Center Operations Eastern Region
HSBC USA Inc.
Chesapeake, VA Raymond J. Peloso
Senior Vice President, Problem Debt Management
Citizens Bank
Bridgeport, CT James Tew, Jr.
Executive Vice President, Special Assets Manager
BB&T
Wilson, NC | Larry Tewell
Senior Vice President, Card Services
Wells Fargo Bank, N.A.
Salt Lake City, UT Frederick Troncone
Senior Vice President, Collections
Fifth Third Bancorp
Cincinnati, OH Charles Mark Tuggle
Senior Vice President, Director of the Consumer Collection Group
BBVA Compass
Birmingham, AL Gary Urschler
Vice President And Manager, Portfolio Management/Default Management
PNC Bank, N.A.
Pittsburgh, PA Robert Wehner
Vice President, Customer Asset Management
M&T Bank
Williamsville, NY Kathleen E. Young
Vice President
Chase Automotive Finance
Tampa, FL |
