Welcome to the Research Assistant Weekly Newsletter - a subscriber-only resource for insight into emerging compliance challenges, details on peer calls, and links to new Research Assistant reports, documents, tools, and more.
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Sponsored by TCN
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During this week’s Research Assistant peer call we discussed what to do when you get a hit on your litigious consumer scrub. First, it’s important to ensure that you do not penalize a consumer for exercising their rights under the law or you may run afoul of the ECOA or UDAAP.
Litigious consumer scrubs can be beneficial to avoid serial filers that will likely waste your organizations resources, but you want to be careful not to necessarily auto-close those accounts without an evaluation.
So what can you do with this information? Our members had the following tips:
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Review each consumer individually and determine if they’re a serial filer or if there was an isolated incident that may have been justified.
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Look for potential merits in the previous case.
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Make sure to narrow your search by zip code to weed out similar names.
As with all things compliance, it’s important to ensure that you train your team on how to handle these appropriately and implement policies and procedures outlining how you will handle these accounts.
Documents and Crowdsourced Materials:
Top Reads:
Upcoming Webinars/ Other Announcements:
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Upcoming Webinar: Work Smarter, Not Harder – Keeping Tabs On Laws, Rules, and Regs (and keeping ops looped in), October 25th at 2:00 ET, Register here.
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Please make a note of our updated email addresses:
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