Email to order the Recording + Free Digital Recording
These are not easy times for collection professionals. Complaints, litigation, and regulatory penalties negatively impact the ability to collect delinquent loans. Everyone understands the consumer protection focus of the CFPB. However, recent rulings are telegraphing the Bureau’s thoughts about debt collection generally and their plans for future regulations and enforcement actions. From collection agencies to banks, finance companies, and credit unions, the CFPB is issuing stern rulings and imposing hefty penalties.
This session will review recent regulatory actions under the Consumer Financial Protection Act and explain how unfair, deceptive, or abusive acts or practices (UDAAP) will continue to impact unprepared financial institutions. It is never a defense to say this is the way we have always done it. The risk of any questionable practices being detected has never been greater, so now is the perfect time to review your collection processes. Do you understand the severity of the collections storm on the horizon? Are you properly prepared to balance full compliance with maintaining an effective collection program?
HIGHLIGHTS
Important CFPB collections actions
UDAAP dos and don’ts
Difference between a false threat and a real promise
Effectively using account restrictions
Relaying the credit score implications of a collection action
Conducting a risk-based collections audit
TAKE-AWAY TOOLKIT
Regulatory guidance and resources
Risk-based collections audit matrix
Key policy implications
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Senior executives, directors, committee members, lending managers and staff, collections managers and staff, compliance personnel, auditors, and anyone involved with compliance and delinquent accounts.
ABOUT THE PRESENTER – David A. Reed, JD, Reed & Jolly, PLLC, attorney, author, consultant, and nationally-recognized speaker, is a partner in the law firm. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections. A former trial attorney and vice president and general counsel of a large credit union, David is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy. He also serves as editor of several industry manuals.
Showing posts with label Debt Collection. Show all posts
Showing posts with label Debt Collection. Show all posts
(ON DEMAND) Debt Collection Series: Advanced Collection Concepts, Compliance & Risks
Email to Order Archived Webinar!
Which operational area of your institution is most likely to drive a borrower into the arms of a consumer rights attorney? Collections! What are you doing to manage the many hidden compliance risks in your collections area while also maximizing recoveries? The collections function is not just about dialing for dollars and repossessing collateral. The collections area is at the crossroads of account services and back-office operations. You need to know the risks and opportunities that present themselves. Is your collections department ready to help both the borrower and the institution weather the storm? From dealing with staff, to delinquent borrowers, to attorneys, to the board and senior management, the collections manager’s job is becoming more difficult all the time. Collections is not just about the delinquency ratio. Attend this webinar and be prepared!
HIGHLIGHTS
Creating a holistic view of collections
Understanding the compliance risk in collections
Methods to balance risk and recoveries
Identifying the most common collections landmines
Best practices to avoid costly compliance violations and maximize recoveries
TAKE-AWAY TOOLKIT
Sample collections inventory
Sample collections risk assessment
Resource guide for collections compliance
Recent regulatory guidance
Basic collections audit and quality assurance program requirements
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Executives, collections managers, collectors, compliance officers, internal auditors, lending staff, vendor oversight personnel, and others involved with collections and compliance.
ABOUT THE PRESENTER – David A. Reed, JD, Reed & Jolly, PLLC, attorney, author, consultant, and nationally-recognized speaker, and a partner in the law firm. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections. A former trial attorney and vice president and general counsel of a large credit union, David is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy. He also serves as editor of several industry manuals.
Which operational area of your institution is most likely to drive a borrower into the arms of a consumer rights attorney? Collections! What are you doing to manage the many hidden compliance risks in your collections area while also maximizing recoveries? The collections function is not just about dialing for dollars and repossessing collateral. The collections area is at the crossroads of account services and back-office operations. You need to know the risks and opportunities that present themselves. Is your collections department ready to help both the borrower and the institution weather the storm? From dealing with staff, to delinquent borrowers, to attorneys, to the board and senior management, the collections manager’s job is becoming more difficult all the time. Collections is not just about the delinquency ratio. Attend this webinar and be prepared!
HIGHLIGHTS
Creating a holistic view of collections
Understanding the compliance risk in collections
Methods to balance risk and recoveries
Identifying the most common collections landmines
Best practices to avoid costly compliance violations and maximize recoveries
TAKE-AWAY TOOLKIT
Sample collections inventory
Sample collections risk assessment
Resource guide for collections compliance
Recent regulatory guidance
Basic collections audit and quality assurance program requirements
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Executives, collections managers, collectors, compliance officers, internal auditors, lending staff, vendor oversight personnel, and others involved with collections and compliance.
ABOUT THE PRESENTER – David A. Reed, JD, Reed & Jolly, PLLC, attorney, author, consultant, and nationally-recognized speaker, and a partner in the law firm. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections. A former trial attorney and vice president and general counsel of a large credit union, David is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy. He also serves as editor of several industry manuals.
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