New CFPB Debt Collection Final Rule: What Banks and Credit Unions Need to Know

On-Demand
$149.00
Training Includes:
  • Certificate of Attendance
  • All resources and training materials
  • An on-demand recording will be available after the live presentation.

Legal expert Daniel Cotter will explain the new rules that financial institutions must follow when collecting debts.

What You'll Learn

  • What is the purpose of the FDCPA?
  • How will the CFPB Final Rule affect your ability to collect debt?
  • What is considered consumer debt?
  • What new developments in debt collection should you incorporate?
  • How does the September 1 rule affect your institution?
  • What steps must you take to protect consumer privacy?

Training Overview

Breaking: New CFPB privacy rules and what they mean for you. Learn what practices you need to update immediately.

The CFPB published a new Privacy Act implementation rule effective September 1. These changes focus on the role of theChief Privacy Officer and identity verification methods.You must understand the new directives quickly to ensure compliance.

In addition to becoming aware of these latest updates, you need toimplement the Final Rule released on December 18, 2020, which continues to elude many financial institutions. This document defines how debt collection can take place with consumers, reinforcing and interpreting the requirements of the Fair Debt Collection Practices Act (FDCPA) and the Privacy Act of 1974.

  • What is the purpose of the FDCPA?
  • How will the CFPB Final Rule affect your ability to collect debt?
  • What is considered consumer debt?
  • What new developments in debt collection should you incorporate?
  • How does the September 1 rule affect your institution?
  • What steps must you take to protect consumer privacy?

Who Should Attend?

  • Loan officers
  • Loan processors
  • Marketing staff
  • Compliance officers
  • Auditors
  • Chief credit officers
  • Credit analysts
  • Loan officers
  • Commercial lenders
  • Loan administrators
  • Loan documentation specialists
  • Credit risk officers
  • Loan review staff
  • Lenders
  • Underwriters
  • Business development officers
  • Branch managers
  • Assistant branch managers
  • Bankers
  • Tellers
  • Relationship managers

Expert Presenter

Daniel A. Cotter

  • Attorney and counselor with Howard & Howard in Chicago, Illinois

  • Spent almost 17 years in-house at insurance organizations, focusing on insurance, regulatory, technology, IT, compliance, and transactional matters

  • Worked as an accountant at CAN Financial for over five years

  • Previously an adjunct professor at The John Marshall Law School, teaching Insurance Law, Accounting for Lawyers, and SCOTUS Judicial Biography

  • Completed the Illinois CPA exam

  • Author of The Chief Justices, published in 2019

  • B.A. in accounting from Monmouth College

  • Graduated from The John Marshall Law School

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