C.A.R.S. Has Been Approved In Illinois!

Press Release

RISC is proud to announce that the Illinois Edition of the C.A.R.S. – Certified Asset Recovery Specialist certification program has been approved by the Illinois Commerce Commission (ICC).

The ICC is responsible for enforcement of the new Illinois Collateral Recovery Act.  Both the Illinois Edition and the standard C.A.R.S. programs meets all the Consumer Financial Protection Bureau (CFPB) compliance requirements.

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AFA Set To Educate Members on Emerging Compliance Regulations

FOR IMMEDIATE RELEASE

RALEIGH, N.C. – Allied Finance Adjusters is set to hold a national compliance seminar to educate its members and guests about regulations mandated by federal government and lending institutions.

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FTC, DOJ and CFPB File Amicus Brief in Support of Debtors Ability to file Lawsuits without Recourse of Costs

 

 

 

 

Washington DC – August 20, 2012 – In a showing of support to borrowers and attorneys who would wish to file lawsuits against creditors or collectors without having to bear the cost of defenses in the event of their cases being dismissed, the Federal Trade Commission, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) have filed an amicus brief (friend of the court) in an attempt to overturn a 10th Circuit Supreme Court Decision.

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Illinois Commerce Commission Approves RSIG’s CRA Course for State Certification

The Illinois Commerce Commission on August 17, 2012 notified RSIG the Certified Recovery Agent education course for Illinois was approved. The course has both Manager and Employee programs that has meet all requirements of the Illinois Commerce Commission for the required education needed to work in the repossession business in Illinois. In addition this course also meets the requirements for education under the Consumer Financial Protection Bureau requirements for third party vendors.

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CFPB Hiring Undercover Investigators to Infiltrate Financial Institutions

Washington DC – August 14, 2012 – Based upon employment ads posted by The Consumer Financial Protection Bureau (CFPB), they are hiring investigators to investigate and possibly infiltrate financial institutions and probably collection agencies as well as any business that originates or services loans in any manner.

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Complying With the Consumer Finance Protection Bureau (CFPB)

Press Release

By design RISC has been at the forefront of training and compliance. The foundation of RISC is to increase the knowledge and proficiency of the recovery agency owner and respective employees through risk mitigation by thorough and continual training.

We continue to create the latest and most up to date training manuals, documents, and procedures that meet the evolving compliance requirements of the collateral recovery Industry and now the CFPB. And, insomuch as the CFPB compliance requirements continue to evolve, RISC remains very actively involved in having our compliance documents and educational programs continually updated so that RISC Agent Alliance members are assured that they meet the very latest in compliance and educational standards.

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CFPB to Hold Lenders Responsible for Third Party Actions

Washington, DC – May 10, 2012 – Vendor due diligence and lender responsibility for the actions of third parties used by their contractors was highlighted In an announcement made last month by the Consumer Financial Protection Bureau (CFPB). This statement confirms the course of action that may be utilized by the CFPB to regulate the repossession industry as well as all lending service providers.

“April 13, 2012 – The Consumer Financial Protection Bureau (CFPB) today released a bulletin clarifying that financial institutions under Bureau supervision may be held responsible for the actions of the companies with which they contract. The Bureau will take a close look at service providers’ interactions with consumers. It will hold all appropriate companies accountable when legal violations occur. 

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NARS 2012 A Huge Success!

Las Colinas, TX – March 27, 2012 – If you weren’t at this years North American Repossessors Summit (NARS) held at the Omni Mandalay in Dallas, you missed without a doubt, the most important meeting regarding the future of the repossessions industry that’s been held to date. With over 500 Repossession company owners, employees and vendors, this was probably the largest meeting in the industries history. This massive attendance can be largely attributed to the tumultuous times the industry has been going through and this years NARS delivered with some lively and timely debate and conversations from industry leaders addressing many of the important issues facing the industry today.

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