The Annual Conference of Time Finance Adjusters members was recently held at the Atlanta Airport Gateway Marriott and was a highly successful “FIRST” in the Asset Recovery Industry.
The TFA Conference started off the evening prior to the Compliance Sessions with a hosted client reception, which was attended by TFA Members, Clients and Industry Vendors. The ballroom had food at every corner, an open bar and lots of great interaction between the attendees and the TFA hosts, Patrick Altes and Nicki Merthe.
Observed attending the function were notables John Hambrick the SVP of Business Development for Microbilt, a leading data provider for the industry, Mike Peplinski of Harding Brooks Insurance Agency, fast becoming a “go-to” provider for recovery agency insurance and bonding.
Other notables present were Joan Hudson, representing ARB out of Louisiana, Bob Wilson, a recognized icon of the industry from Memphis Tennessee and the Atlanta TFA member of many years Gene Childers and his lovely wife Penny as well as their entire office and field staff. Other faces present were Millard Land of Houston, Peggy Chapman of Las Vegas and many other TFA members from across the country.
The Conference General Session commenced the next morning and was totally comprised of educational sessions related to COMPLIANCE intermingled with a current status of the recovery industry insurance issues presented by Mike Peplinski. A special presentation about the NCLC proposals to modify the Uniform Commercial Code was presented by Rob Winther.
The Compliance Sessions were conducted by a recognized recovery industry “expert witness” and subject matter expert, Ron L. Brown. Brown is the author of numerous accepted policies and procedures for the recovery industry, who took the stage after a welcome by TFA CEO, Patrick Altes.
As usual, Mr. Brown was concise and to the point with his presentations on establishing an agency “Breach of Peace Recognition and Avoidance Policy” and the attending members left the session with a thorough knowledge as to what a “breach of peace” may consist of and a written compliance policy to take back to their agency.
The next Compliance Presentation was related to designing a UDAAP (Unfair, Deceptive or Abusive Acts or Practices) Policy for recovery agencies. The presentation was an up-to-date report of possible violations, but more importantly, provided the attendees with a solid UDAAP Policy for their compliance documents.
The final Compliance Presentation of the TFA Conference was related to an industry “hot issue” with the CFPB, Consumer Complaint Response and Tracking. By their own admission, the CFPB are focused on tracking consumer complaints, and the larger lenders are demanding that their third-party service providers develop a complaint policy and the ability to document and track complaints. The attendees provided with the required documents to obtain full compliance in this key area.
In closing, all who attended the program agreed that Mr. Brown had lived up to his promise that the sessions would be “Educational, Enlightening and Entertaining” and that Time Finance Adjusters had provided them with the much needed Policies and Procedures to bring their agencies into full CFPB required compliance.
“Training for CFPB compliance and other industry safety issues are key for TFA”, said CEO Patrick Altes, “As well as professional business development and marketing. We provide our people with the tools they need to succeed”.
Never before had a TFA Convention (or any other industry association convention) been entirely devoted to providing vital member compliance education, and placing the actual policies and procedures in the hands of the attending members.