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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Renovo Services Completes Service Organization Control (SOC) 1 Type II Audit

Press Release

Chicago, IL – September 5, 2012 –  Renovo Services, LLC, the vehicle transition industry’s most fully integrated single-source solution to the financial services industry, announced today that it has successfully completed a SSAE 16 (Service Organization Control (SOC)) 1 Type II audit.  This audit was conducted by McGladrey LLP, (the fifth largest U.S. provider of assurance, tax and consulting services), and examines the effectiveness of internal controls supporting Renovo Services asset recovery and remarketing business. SSAE 16 is the new auditing standard developed in 2011 by the American Institute of Certified Public Accountants (AICPA) to replace SAS 70.

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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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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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AUGUST WEBINAR SERIES OFFERS LASTEST IN RECOVERY LAWS AND REGULATIONS, COMPLIANCE AND POLICIES, AND INDUSTRY BEST PRACTICES

 

 

 

 

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

WHAT:

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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