What is the CFPB Arbitration Rule? Definition & Best Practices

Arbitration between companies and consumers as an alternative form of conflict resolution often works as a strategic option for the company in question, affording it the opportunity to minimize costs and simplify the process of appeasing upset clientele. Due to the tendency that many companies demonstrate for negotiating through arbitration, as opposed to using the […]

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What is the CFPB Consumer Financial Protection Bureau? Definition, Tips, Best Practices, and Compliance Challenges of the CFPB

Consumer Financial Protection Bureau Definition The Consumer Financial Protection Bureau (CFPB) is an agency of the United States government set up after the financial crisis of 2008 in order to protect the rights of consumers in the financial services industry. The CFPB has jurisdiction over areas including banks, credit unions, securities firms, debt collectors, foreclosure […]

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Prepare Your Collections Call Center for CFPB Audits with Speech Analytics

In a time when lawsuits, complaints, and CFPB audits are increasing, collections contact centers need to take steps to improve their processes and prove their compliance. Collections contact centers and Accounts Receivables Management (ARM) firms have to maximize payments while still staying compliant and up to date with new rules and regulations, which often proves […]

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