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In addition to other current topics, the discussion about the consequences of the Secondary Credit Market Act took up a lot of space at this year’s conference. It was not only about details and deadlines for applying for certification, but also about the fundamental question of the expected impact of the EU Parliament’s initiative. Many conference participants agreed that the need for regulation of the secondary market for non-performing loans in Germany was effectively unnecessary.
Dr. Marcel Köchling, vice president of the German Federal Association for Loan Purchasing and Servicing (BKS), emphasized in a panel discussion that there was little need for more regulation in Germany, because the number of non-performing loans is traditionally very low and existing regulations would provide sufficient frameworks, especially with regard to consumer protection. Furthermore, all panelists agreed that there is a risk of market consolidation as a result of the law. The panel members considered the revival of the secondary credit market intended by the legislature to be quite unlikely.
In addition, a change of management took place. In the General Members‘ Meeting, Kirsten Pedd handed over the gavel to Anke Blietz-Weidmann. Kirsten Pedd had previously stated that she would not run for office again after sixteen years on the board, including eight as president. She was unanimously elected honorary chairman. Anke Blietz-Weidmann has been part of the management committee since 2015.
In her speech on her candidacy for the presidency, she announced that she wanted to continue the team- and dialogue-oriented path of her predecessor. The latest sector survey, the new president continued, has once again underlined the relevance of the debt collection industry. With more than 30 million claims, the number has increased again compared to 2022; The return on these claims is approximately 5 billion euros. These returns can be assumed to play an important role in securing jobs, investments and innovations, Blietz-Weidmann said. The fact that in the future both the Federal Office of Justice (BFJ) and the Federal Financial Services Supervisory Authority (BaFin) will monitor the activities of the debt collection industry underlines its overall economic importance.
However, the BDIU is confident that legal debt collection services are now largely in the right balance in terms of costs. However, the legislator must take action against the unequal treatment of lawyers and debt collection service providers in terms of powers.
MODINT Credit & Finance naturally follows the various legal changes in Germany. A new law, the Quality of Collection Services Act (Wki), will also apply in the Netherlands from April 1, with which MODINT Credit & Finance will comply. The aim of this law is to increase the quality of extrajudicial collection services and to eliminate abuses within the sector. The law introduces a collection register and strict quality requirements will apply to the collection of claims.
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