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
Liability lawsuits against financial institutions involving consumer collections are increasing. There are numerous laws and regulations covering consumer debt collection activities that institutions must follow. Consequently, there are numerous opportunities for errors and mistakes in the collection process. Therefore, it is important for your institution to understand proper collection procedures to avoid liability. This webinar will explain all aspects of the consumer collection process, including collection letters, default notices, right to cure notices, workouts, forbearance, restructurings, and setoff on deposit accounts.
Continuing Education: Attendance verification for CE credits upon request
- Common mistakes in the collection process and how to correct them
- Examples of how creditors have gone too far in the collection process
- Explanation of the 10 collection activities that regulators will be watching closely
- Summary of the Fair Debt Collection Practices Act
- How your institution can reduce its risk of liability
- TAKE-AWAY TOOLKIT
- CFPB Bulletin Prohibition of Unfair, Deceptive, or Abusive Acts or Practices in the Collection of Consumer Debts
- Checklist of steps in the consumer collection process
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is directed to consumer loan officers, loan operations personnel, credit administration personnel, collection personnel, compliance officers, attorneys, managers, and others involved in the collection process.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.