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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Charlotte Shooter, Victim and Repo Company Identified

Charlotte, NC – August 9, 2012 – The alleged shooter in Thursday morning’s rolling shoot out, the victim and the repossession company have been identified. As it turns out, the agent appears to have attempted to have released the vehicle in an effort to stop the chase, but to no avail, the shooter proceeded to deliver six gun shots through the cab and rear windshield the truck.

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American Recovery Association and RISC roll out August dates for free continuing education program to benefit recovery and remarketing professionals


American Recovery Association and RISC announce webinar dates for the month of August

as part of its continuing education series addressing the latest in recovery processes, including laws and regulations, compliance policies and procedures, and best practices.

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Capital One to Pay $10K for every Wrongful Repo on Servicemen

July 28, 2012 – In its second settlement in eight days, Capital One Bank will pay $12 million in restitution to troops who were unlawfully denied reprieve from high interest rates, foreclosure and car repossession while on active duty. As the result of alleged violations of the Servicemembers Civil Relief Act (SCRA), Capital One has agreed to settle on allegations it is accused of denying legal process and protections to during the period of July 15, 2006, to November 21, 2011.

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Lawsuits – Guilty Until Proven Innocent

Guest Editorial

In a perfect world, the case would have never have been allowed to be filed against us without some credible support.  The allegations made against us are untrue and what we have been accused of, we did not do.  But this is not that perfect world, rather, it is one that, all of us in the recovery industry, must live and operate within.  Compliance, now on a state level with the Collateral Recovery Act and now increasingly on a Federal level with the founding of the CFPB, is the single largest component of success or failure in the recovery industry that will literally make or break our business and yours.  

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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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American Recovery Association and RISC roll out June dates for continuing education program to benefit recovery and remarketing professionals

WHAT: American Recovery Association and RISC announce free webinar dates for the month of June as part of its new continuing education series for members and employees.

The collaboration between American Recovery Association and RISC is focused on assisting recovery and remarketing professionals in staying plugged into the most current industry rules, regulations, and compliance requirements.

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