Uncover Hidden Risks at the Collections & Bankruptcy Conference
"Collections is the crossroads of most operational areas within the credit union and the area that is most likely to drive a member into the waiting arms of a consumer protection attorney," says David Reed, 2014 Collections & Bankruptcy facilitator.
Collections compliance is riddled with hidden risks. Credit unions need to focus some compliance time on the collections area. What is the credit union doing to manage the many hidden compliance risks in the collections area?
From lending regulations to credit reports and third party collections to member privacy issues, the collections area faces complex compliance issues daily. Discover what land mines to look out for and how to prepare employees at the Collections & Bankruptcy Conference on September 3-4.
This conference will cover ways to integrate the collections function into your compliance program and reduce the risk of compliance failures. Click here to register.
Major compliance concerns could be:
- All lending and account regulations (from loan payment and interest rate calculations to negative balances and set offs)
- Loan Modifications
- Real Estate Collections
- Fair Credit Reporting Act
- Fair Debt Collections Practices Act (for their collections agencies)
- UCC issues
- Garnishments and Levies
- Mortgage Servicing Under the New Mortgage Rules