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CFPB has laid out the rules and definitions. There is little time left to get into compliance! ACT NOW!

GET PREPARED!


FREE CFPB UDAAP Compliance webcast!


The Frank-Dodd Wall street Reform Act has laid the groundwork for the CFPB and you MUST know the rules and COMPLY with them. This is SERIOUS and URGENT. The CFPB's UDAAP Compliance measures and standards MUST be met in order to even survive an "Examination". Similar to the CID scenario of the FTC, these metrics are carefully reviewed and scrutinized in order to determine if what you are doing, saying, selling, displaying or omitting is injurious to the consumer. If money is involved, which it certainly is, it is considered to cause agregious harm to the consumer. Here are some points that are posted for your understanding. Please READ them. The survival of the remaining players in the industry is at stake and together JOIN THE FREE WEBCAST AND GET THE FACTS!

To initially identify potential areas of UDAAP concerns, obtain and review copies of the following to the extent relevant to the examination:

  • Training materials.

  • Lists of products and services, including descriptions, fee structure, disclosures, notices, agreements, and periodic and account statements.

  • Procedure manuals and written policies, including those for servicing and collections.

  • Minutes of the meetings of the Board of Directors and of management committees, including those related to compliance.

  • Internal control monitoring and auditing materials.

  • Compensation arrangements, including incentive programs for employees and third parties.

  • Documentation related to new product development, including relevant meeting minutes of Board of Directors, and of compliance and new product committees.

  • Marketing programs, advertisements, and other promotional material in all forms of media (including print, radio, television, telephone, Internet, or social media advertising).

  • Scripts and recorded calls for telemarketing and collections.

  • Organizational charts, including those related to affiliate relationships and work processes.

  • Agreements with affiliates and third parties that interact with consumers on behalf of the entity.

  • Consumer complaint files.

  • Documentation related to software development and testing, as applicable.

    This is all clearly laid out and accessible to you via the link provided. I recommend that you attend the upcoming Webcast so we can guide and assist you in becoming completely compliant to ALL relevant UDAAP, Sec 5 and State and Federal Guidelines.

    CLICK HERE TO READ THE GUIDELINES!


    CLICK HERE TO READ THE DETAILS ON UDAAP!



    FREE CFPB UDAAP COMPLIANCE WEBCAST
    Thursday, March 8th
    12:00-1:00 PM CDT

    Thank you,
    Matthew Hearn- MSTARS
    (952) 388-0668
    (952) 451-6288
    matt@mstarsinc.com

     



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