ACA's Compliance Checklist
Based on the CFPB Examination Procedures for Debt Collection
Staying in compliance with federal laws is critical to running a successful collections business. But how do you assess how well your compliance management system is integrated into your daily operations? ACA's Compliance Checklist provides you the tools you need to demonstrate how your organization plans, identifies and documents corrective actions to ensure continuous improvement - helping keep your compliance program in line with CFPB expectations.
Use this checklist to determine if your company has processes in place to address items like:
- Internal structure, controls and compliance management
- FDCPA compliance
- GLBA and FCRA compliance
- Litigation practices and repossession
The Compliance Checklist User Guide includes information on the background of the CFPB compliance priorities, instructions on how to use the checklist and information about areas of risk associated with each module found in the CFPB Examination Procedures for Debt Collection. The user guide also covers consumer complaint tracking and features a sample complaint-tracking form and consumer issues log.
-CFPB Compliance Priorities
-Description of Checklist Criteria
-Compliance Areas of Risk
-Module 1: Entity Business Model
-Module 2: Communications in Connection with Debt Collection
-Module 3: Information Sharing, Privacy and Interactions with Consumer Reporting Agencies
-Module 4: Consumer Complaints, Dispute Resolution and Debt Validation
-Module 5: Payment Processing and Account Maintenance
-Module 6: Equal Credit Opportunity Act
-Module 7: Litigation Practices, Repossession and Time-Barred Debt
You will receive electronic files of both the Compliance Checklist User Guide and an editable Compliance Checklist (Microsoft Excel file) with tabs on the various modules featured in the CFPB Examination Manual.
Start demonstrating your compliance today!
NOTE: When you purchase this electronic product, you will have instant access by being logged into the ACA website, clicking on My ACA and then clicking on Purchases. If you have any further questions, please contact Mike Klippenstein at (952) 928-8000, ext. 710.
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