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Debt collection firms are at risk for potential consumer lawsuits and CFPB examination. We Assist collection organizations by providing risk assessment, remediation, training, and publications to reduce your risk. A risk assessment for a CFPB audit is very thorough and covers 7 different areas. Violations found by the CFPB can result in expensive fines when they find deficiencies. If you are well prepared for a CFPB audit you also reduce your risk of lawsuits for possible violations of FDCPA, FTC, UDAAP, etc.

We offer our clients risk assessment audits as if we are the CFPB. We report to you on our findings, including any deficiency areas, and we provide skills and staff when asked to assist in the remediation process. Of course the advantage is whatever we find does not result in a fine and can save clients many thousands of $$$ as a result. The second major benefit is assisting the client to reduce their exposure to consumer lawsuits for violating the various acts.†

Click here for your free CFPB compliance check list

Why Compliance Matters

The environment is regulation and no industry is more regulated than consumer debt collection. There is no better place to spend your money by assuring your company and employees are in compliance with the federal and state regulations.

Why? Because, if you donít, you risk the fines of regulators, as well as, costs and potential awards from consumer lawsuits.

Good compliance practices contributes to financial well-being and reduced risk. It also demonstrates to employees the levels of enforcement that you demand to protect your company. Regulatory compliance is intended to protect consumers by requiring companies to incorporate certain policies and procedures into their business operations, especially in the debt collection industry where consumer information security and privacy are of prime concern.

Compliance with good internal policies and procedures contribute to improved revenues and profits which ultimately justify the costs of compliance.

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