Big Mistake: Three Compliance Risks Collectors Overlook
from The Debt Collection Drill Hosted by John K. Rossman
Regulators from the CFPB and the FTC encourage the debt industry to look at past enforcement actions and other publications to determine what issues are most important to those agencies. A review of the recent enforcement actions by the CFPB and FTC, as well as other publications, reveal three distinct trends: actions involving unfair treatment of service members; the failure of debt collectors to adequately distinguish and investigate FDCPA and FCRA disputes; and, racial bias in debt collection efforts. In this timely and thought-provoking episode of the Debt Collection Drill, attorneys John Rossman and Mike Poncin discuss best practices for complying with collections involving service members, handling of FDCPA and FCRA disputes and tips for creating a program to assess and eliminate any racial bias in the debt collection process. During the podcast, the below article series on racial bias in debt collection is discussed. https://www.propublica.org/article/debt-collection-lawsuits-squeeze-black-neighborhoods
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