Politics makes strange allies. It wasn’t too long ago that collection agencies and creditors, while part of the same industry, viewed each other from across the table with suspicion at best.
Collectors felt pressured into business practices that put their agencies at risk in order to keep business; creditors worried that collection agencies were playing too fast and too loose with compliance.
However, in the eyes of the Consumer Financial Protection Bureau, debt collectors and creditors are two sides of the same coin — and both covered under CFPB oversight equally. This means the beginning of new opportunities for debt collectors and creditors to start to work together to ensure best practices and compliance under this new regulatory scrutiny.
Interactive Intelligence, partnering with insideARM.com, will be presenting an informative and candid webinar on 25 June 2014, from 2.00 p.m. – 3.15 p.m. Eastern, that looks at the current landscape of creditor and collector interactions, and what is on the horizon.
Below is an outline of the topics covered in the groundbreaking webinar:
- The Good Ol’ Days: A look at what the landscape was like, pre-CFPB
- We’ll hear from Michael Caruana of Diamond Resorts, and Chris Straiter of Sentry Credit, about what life was like, pre-CFPB. What were some of the regulatory pressures like? How would the relationships between creditors and collectors best be described? This will set the stage for and give us all a context for talking about…
- The Landscape Today
- We’re living in a post-CFPB world, now. How has the CFPB changed the way collectors and creditors conduct business? What are the stressors that these businesses are facing together?
- Challenges & Changes: Four pressure points between creditors and collectors
- Using for different topics, the panelists will talk about the frustrations and opportunities in:
- Quality of data
- Controls and Communication
- Compliance
- Roles & Responsibilities
- What are the best practices that should start to be developed to make the previously (and historically) tense relationship between creditors and collectors less so. How can these groups present a unified front to the CFPB?
MODERATOR & PANELISTS
- Mike Bevel of insideARM.com
- Michael Caruana of Diamond Resorts (presenting the creditor side)
- Chris Straiter of Sentry Credit (presenting the collector side)
- John Bedard of Bedard Law Group (presenting the legal aspect)