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CFPB Focuses on Junk Fees, Credit Reporting, and COVID-19 Relief Funds in Latest Supervisory Highlights

On November 16, 2023,  the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report, focusing on the auto servicing industry, consumer reporting, mortgage servicing, and COVID-19 relief funds. The report highlights the CFPB’s continued focus on so-called junk fees and inaccurate credit reporting.

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The Risk in Outbound IVR and How to Manage It 

Using an outbound Interactive Voice Response (IVR) can be beneficial for collections, but it can pose real compliance risks if not deployed with strong controls. Find out what three steps you can take to mitigate the risk and reduce customer frustration.


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ConServe Cares Program Supports The Salvation Army of Rochester

ROCHESTER, N.Y. --Continental Service Group, Inc., d/b/a ConServe’s charitable giving program, ConServe Cares, allows both the employees and the organization as a whole to support a wide range of community investment efforts, thereby engaging and inspiring employees while also reinforcing ConServe’s outstanding corporate citizenship.  The October ConServe Cares program has been allocated to The Salvation Army of Rochester.

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A Candid Conversation About The Recent Sale of A Mid-size Accounts Receivable Management Firm

If you own or run a company, and you’re considering selling out or buying another company, I strongly encourage you to watch this video.

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NYC Debt Collector Rules - Amendments Proposed; Public Hearing to be Held Dec 5th

The New York Department of Consumer and Worker Protection (DCWP) is proposing to amend its rules relating to debt collectors.  DCWP will hold a public hearing to address the proposed rules at 11 am ET on Monday, December 5, 2022.

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FTC Extends Deadline for Updated Safeguards Rule by Six Months

On November 15, 2022, the FTC announced that it was extending by six months the deadline for companies to comply with some portions of the updated Safeguards Rule. The extension comes as a welcome relief to companies racing to meet the rapidly nearing effective date.

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CFPB Files Cert Petition Requesting Expedited Review of Fifth Circuit Decision Finding Funding Structure Unconstitutional

As discussed here, on October 19, a three-judge panel of the Fifth Circuit Court of Appeals held that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism violates the appropriations clause because the CFPB does not receive its funding from annual congressional appropriations like most executive agencies, but instead receives funding directly from the Federal Reserve based on a request by the CFPB’s director.

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Complete Guide to Risk and Gap Assessments - Part 5: Maintain Your Progress - Don’t Skip the Audit

TODAY! November 29, 2022 at 02:00 p.m. ET

Concluding a risk and gap assessment is something to celebrate. They are a lot of work. Full stop. However, if you don’t set up a proper auditing plan, you’ll need to perform another risk and gap assessment sooner rather than later. A robust auditing procedure that includes remediation plans and keeping your C-suite informed will allow you to build off your recent analysis, so you won’t have to do another one before you know it.

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