FOR IMMEDIATE RELEASE
Allied Finance Adjusters (AFA) and Vendor Transparency Solutions (VTS) have partnered combining the nation’s oldest and largest national trade association with the independent leader in compliance monitoring. AFA has maintained their compliance module on its website that has assisted their members in sharing their compliance documents with lending institutions. With the introduction of VTS Basic, we can now offer our members a recognized platform to reach a higher level of compliance. This new software provides members with more functionality and features including the VTS Marketing Module, VTS Complaint Handling Module, VTS Continued Education Module to give our members exposure to lenders who utilize VTS Professionals.
“Since the inception of the CFPB, AFA has positioned its members to be the most educated operators in the recovery industry. Working with VTS gives AFA proven tools to show the lending community that AFA and its members are taking compliance seriously,” said James Osselburn AFA Second Vice President Allied Finance Adjusters.
AFA members receive discounts on all VTS services, which consist of VTS Professional, VTS Basic and ongoing continued education. These discounts are exclusive to AFA members; which is another example of what belonging to AFA can do for your business. Additionally, AFA has contracted VTS to perform the site inspections and other due diligence required to become a new member of Allied Finance Adjusters. Utilizing VTS to perform these inspections is important when it comes to vetting new members, the high caliber of VTS will insure to the lending institutions that the members of AFA are held to a higher standard. New members of AFA will receive an even greater discount on VTS Basic should they choose to participate.
Allied Finance Adjusters is the leader among national trade associations in CFPB compliance training and education through its relationship with Recovery Specialist Insurance Group (RSIG). As of date 90% percent of Allied members have completed this training. This partnership demonstrates AFA’s commitment to be the largest group of bonded, compliant service providers in the nation, which creates new revenue opportunities for members by creating a one stop shop for all financial institutions, banks, credit unions, law firms and replevin brokers. The AFA Education Committee will be working closely alongside VTS on their continuing education module to introduce new ideas on education for AFA members and VTS subscribers.
“There is no question that mastering compliance requires a team effort. That team includes the financial institutions, their contracted service providers and the leaders of the industry trade associations that assist their members through valuable tools and benefits. The most valuable tools today are those that are closely related to compliance and compliance monitoring. We at VTS applaud Allied Finance Adjusters for taking on the leadership roll in the industry and assuring that asset recovery businesses throughout the country have access to the necessary tools needed to achieve compliance,” said Max Pineiro, President Vendor Transparency Solutions.
Allied Finance Adjusters (AFA) is the largest, not-for-profit, national trade association of certified, bonded and CFPB compliant recovery professionals. AFA has lead the industry as the fist trade association to offer its members CFPB Training & ongoing continuing education. AFA Members are the most professional in the industry at locating and repossessing collateral on behalf of all lending institutions including, banks, credit unions, financial institutions, rental & leasing companies, buy here pay here, auto, truck and equipment dealerships. All new AFA Members must pass rigorous physical office inspections and background checks. AFA does not support Phantom or Ghost offices period. All AFA members are independent professional business operators and are covered by the AFA $1,000,000 client protection bond. For more information please contact our home office (800) 843-1232. “Professionals Hire Professionals”
Vendor Transparency Solutions, LLC is the leading, independent, compliance monitoring platform tailored to serve the automotive lending industry. VTS provides its clients with a secure portal that allows the live monitoring of their service providers and all of their compliance related documents, audits and inspections. VTS assists service providers in obtaining the highest level of compliance.