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Course description

You expect the collections industry to undergo changes in the near future!

On 20 March 2019, the Consumer Financial Protection Bureau (CFPB) promised to issue a Notice of Proposed Rulemaking relating to debt collection this spring. The rule will address issues such as communications practices and consumer disclosures. This webinar will take an in-depth look at the anticipated new collection regulations, and will equip you to implement best practices for collecting past due accounts in 2019. 

Until these new rules are issued, however, creditors must rely on prior enforcement actions and various guidance documents to determine what (potentially) qualifies as an unfair or deceptive abusive act or practice (UDAAP). This webinar will provide concrete steps that your bank can take to identify and mitigate UDAAP risks, which carry steep penalties —up to $1 million per day for knowingly violating the law.

In this session, we will examine the CFPB's broad application of its UDAAP authority. Taken together with an exploration of the CFPB's various informal guidance documents addressing debt collection issues, we will determine what constitutes a potential UDAAP violation according to the Bureau. We will also dive into recent verdicts and rulings that affect how your bank handles slow-paying accounts.

This webinar will also address the Federal Deposit Insurance Corporation's (FDIC's) debt collection recommendations for first-party collectorsas well as compliance points related to the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). Reporting charge-offs and Fair and Accurate Credit Transaction Act (FACTA) red flag compliance points will also be covered. Discover the importance of vendor management in the collections arena and how to protect your bank from third-party liability suits. n addition, we will explore protections for servicemembers (including key takeaways from the CFPB & FTC's July 2017 "Military Consumer Financial Workshop"), bankruptcy auto-stay provisions, skip-tracing, and much more!

Finally, we will review steps to make successful collections calls & letters, and discuss best practices for effective & compliant scripting. You will learn how to make motivational appeals that compel your debtors to pay-in-full. 

Overview of Credit & Collections

  • Streamlining your policy, procedures, and practices
  • Fair Credit Reporting Act (FCRA) / Fair & Accurate Credit Transaction Act (FACTA)
  • Fair Debt Collection Practices Act (FDCPA): 1st Party & 3rd party collecting guidelines
  • Consumer Financial Protection Bureau: 1st party collecting, UDAAP, and customer complaints
  • Military Lending Act & Servicemembers Civil Relief Act
  • Bankruptcies: The Auto-Stay Rule and steps to secure and protect your collateral
  • Relevant Litigation Court Cases that affect you
  • Reviewing the credit application for Red Flags and ID Fraud


Collection Letters & Written Communication

  • Notices v. Letters: Design the perfect Collection Letter
  • Letters that get results and are FACTA REG V compliant
  •  Email dos and don’ts

Phone Scripts: Calling the Consumer

  • Calling Techniques: Collecting your money before the competition
  • Motivate the customer to pay in full with one call
  • Enhancing your negotiation skills and work outs
  • Learn the real reason they are not paying you
  • Find overlooked sources of money


Collection Tools

  • Investigation: Finding money when the customer says s/he is broke
  • Using credit reports to uncover facts about consumer
  • Vendor Management: Select the right collection agency or attorney: Are they FDCPA & FACTA Compliant?
  •  Skip Tracing: Calling neighbors, searching the Internet, social media, and more!  
  • Reporting past due customers using Metro2/E-OSCAR


Carly Souther

Carly Souther is General Counsel and COO at iTrain OnDemand (iTod), where she provides guidance on legal and compliance issues for clients in the U.S. financial industry. She formerly served as Chief of Regulation at ECigIntelligence and was the Assistant General Counsel at Florida's Agency for Health Care Administration. Carly has published on a wide range of issues in both legal and medical journals, including the Georgetown Journal on Poverty Law & Policy and the University of Iowa's Transnational Law & Contemporary Problems. She is a member of the Florida Bar, and holds an M.A. from the Universitat Autònoma de Barcelona; a J.D. from the Florida State University College of Law; and a B.A. from Mercer University.

Course curriculum

  • 1


    • Compliant Collections (Do it the Right Way)

  • 2


    • Attendance Sheet

    • Slides

    • Questions and Answers