CFPB

Call Monitoring Compliance

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Call Monitoring Compliance

It’s important to analyze and fully understand the areas of risk as the CFPB continues to closely supervise the collections environment and call monitoring compliance. One of the biggest risks to a collection agency is communication with consumers, making the monitoring of calls a very telling practice.  An effective call monitoring program is a critical … Read more

CFPB Vendor Compliance Management

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When it comes to CFPB vendor compliance, companies must “oversee” their vendors “in a manner that ensures compliance with Federal consumer financial law…The CFPB’s exercise of its supervisory and enforcement authority will closely reflect this orientation and emphasis,” according to the Consumer Financial Protection Bureau’s CFPB Bulletin 2012-3. An effective risk management strategy includes the … Read more