Financial Services

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More clarifying language from the drafting agencies...

As I’ve suggested in previous postings, we’ve certainly expected more clarifying language from the Red Flags Rule drafting agencies.  Well, here is some pretty...

Read More More clarifying language from the drafting agencies
FTC’s Red Flags enforcement deadline extension i...

We at Experian have been conducting a survey of visitors to our Red Flag guidelines microsite (www.experian.com/redflags). Some initial findings show that approximately 40 percent of...

Read More FTC’s Red Flags enforcement deadline extension is helping many institutions
Address discrepancies aren’t the end of the road...

One of the handful of mandatory elements in the Red Flag guidelines, which focus on FACTA Sections 114 and 315, is the implementation of...

Read More Address discrepancies aren’t the end of the road, but they sure can be a bump in it
Triage collections and recovery: A collections managem...

Back during World War I, the concept of “triage” was first introduced to the battlefield. Faced with massive casualties and limited medical resources, a...

Read More Triage collections and recovery: A collections management best practice
What are your thoughts?...

What are your thoughts on the third extension to the Identity Theft Red Flags Rule deadline? Was your institution ready to meet Red Flag......

Read More What are your thoughts?
Common question about the Red Flags Rule...

Does the rule list the Red Flags? The Identity Theft Red Flags Rule provides several examples of Red Flagsin four separate categories: 1. alerts...

Read More Common question about the Red Flags Rule
Optimizing collections strategies...

Optimization is a very broad and commonly used term today and the exact interpretation is typically driven by one's industry experience and exposure to...

Read More Optimizing collections strategies
Is there a need for a business review?...

Currently, financial institutions focus on the existing customer base and prioritize collections to recover more cash, and do it faster. There is also a...

Read More Is there a need for a business review?
Centralized vs. decentralized underwriting...

The debate continues in the banking industry — Do we push the loan authority to the field or do we centralize it (particularly when...

Read More Centralized vs. decentralized underwriting
Response to reader…...

I was recently asked in a comment, "What do we have to do to become compliant?" Great question. There is not a single path...

Read More Response to reader…
A look at the current collections landscape...

Our current collections management landscape is seeing unprecedented consumer debt burdens: Total consumer debt o/s is at $14 trillion as of Jan ’09 Revolving...

Read More A look at the current collections landscape
New Red Flags Rule Federal Trade Commission Web site...

I encourage all of you to have a look at this newly launched Federal Trade Commission Web site dedicated to the Red Flags Rule...

Read More New Red Flags Rule Federal Trade Commission Web site
Change management – Always a necessity...

This post continues the feature from my colleague and guest blogger, Mark Sofietti, Associate Process Architect in Advisory Services at Baker Hill, a part...

Read More Change management – Always a necessity
Consistent compliance-oriented, decisioning strategies...

Regardless of the specific checks and overall processes incorporated into your Red Flags Identity Theft Prevention Program, the use of an automated decisioning strategy...

Read More Consistent compliance-oriented, decisioning strategies can be a cost saver
Strategic execution for your loan portfolios...

We have talked about: the creation of the vision for our loan portfolios (current state versus future state) – e.g. the strategy for moving...

Read More Strategic execution for your loan portfolios