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House Financial Services Committee Offers a Model on Assessing Disparate Impact via Report

The Report examined internal CFPB documents relating to the December 2013 consent order against the auto finance company Ally Financial Inc. and its subsidiary Ally Bank. The Report stated the CFPB purposefully chose to distribute the $80 million dollars in Ally Bank settlement funds “without verifying that recipients [were] eligible to receive the money.”

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Industry Self-Policing Goes Back to 1928; NARCA Follows Suit

In a January 15, 2016 article in American Banker Magazine (Banks Can Use ‘Code of Ethics’ to Strengthen Public Trust), Robert Taylor points out “…an advantage of developing an ethics code is that, unlike bank regulatory policy that must be adjusted constantly depending on the jurisdiction and interpretation, ethical standards are basically timeless. In fact, […]

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Technology, Automation and the Coming of Age – Can the CFPB and the Credit and Financial Services Sectors Partner?

The CFPB has been highly emphatic in requiring both the financial services and the debt collection industry to increase compliance by establishing and maintaining systems and procedures to ensure consumer data privacy in all transactions. All of which have utilized “automated” systems that have proven to be effective and efficient in the credit ecosystem. Millions have been spent by the industry to meet these demands in the past 5-7 years. The National Creditors Bar Association (NARCA) members report a 300%+ increase in compliance costs from 2011-2014.

This Changes Everything

Changing Times Hit Collection Industry Head-On; Addressing Workplace Violence

Last week was the International Association of Commercial Collectors’ (IACC) annual convention in Miami, FL. Having spoken at this conference in the past, I’ve always enjoyed my participation with this organization. When I reviewed the agenda for this year’s event, their keynote speaker jumped off the page at me. Retired Tuscon Police Department Captain and […]