logo

20 Common Collection Pitfalls

Wednesday, March 29, 2017

9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

Debt collection remains one of the major sources of complaints, lawsuits, and enforcement actions against credit unions. There are numerous laws and regulations credit unions must follow which cover consumer and commercial debt collection activities. Consequently, there are ample opportunities for errors and mistakes in the collection process. Borrowers, their attorneys, and regulators are closely watching collection practices, so it’s important to understand proper procedures in order to avoid liability. This webinar will explain the most common collection pitfalls (both consumer and commercial) and how to reduce your credit union’s liability risk.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • The most common collection mistakes and how to correct them
  • Examples of how creditors have gone “too far” in the collection process
  • 10 collection activities regulators have stated they will be “watching closely”
  • Summary of the Fair Debt Collection Practices Act
  • Ways to reduce liability

  • TAKE-AWAY TOOLKIT
    • CFPB Bulletins Prohibition of Unfair, Deceptive, or Abusive Acts or Practices in the Collection of Consumer Debts and In-Person Collection of Consumer Debt
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

RELATED WEBINAR STILL AVAILABLE!

"Reporting Member Credit & Effectively Managing Credit Disputes"
Wednesday, June 14, 2017

WHO SHOULD ATTEND?

This informative session is directed to consumer and commercial loan officers, loan operations personnel, credit administration staff, collection personnel, compliance officers, attorneys, managers, and others involved in the collection process.

PLEASE NOTE: Webinar content is subject to copyright and intended for your individual financial institution’s use only.

MEET THE PRESENTER