Financial Services
One of the handful of mandatory elements in the Red Flag guidelines, which focus on FACTA Sections 114 and 315, is the implementation of...
Back during World War I, the concept of “triage” was first introduced to the battlefield. Faced with massive casualties and limited medical resources, a...
What are your thoughts on the third extension to the Identity Theft Red Flags Rule deadline? Was your institution ready to meet Red Flag......
Does the rule list the Red Flags? The Identity Theft Red Flags Rule provides several examples of Red Flagsin four separate categories: 1. alerts...
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...
Currently, financial institutions focus on the existing customer base and prioritize collections to recover more cash, and do it faster. There is also a...
The debate continues in the banking industry — Do we push the loan authority to the field or do we centralize it (particularly when...
I was recently asked in a comment, "What do we have to do to become compliant?" Great question. There is not a single path...
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...
I encourage all of you to have a look at this newly launched Federal Trade Commission Web site dedicated to the Red Flags Rule...
This post continues the feature from my colleague and guest blogger, Mark Sofietti, Associate Process Architect in Advisory Services at Baker Hill, a part...
Regardless of the specific checks and overall processes incorporated into your Red Flags Identity Theft Prevention Program, the use of an automated decisioning strategy...
We have talked about: the creation of the vision for our loan portfolios (current state versus future state) – e.g. the strategy for moving...
If the business is a creditor or a “financial institution” (defined as a depository institution) that offers covered accounts, you must develop a Program...
They have started to shift away from time-based collections managementactivities (the 30-, 60-, 90-day bucket approach). Instead, the focus is migrating towards the development...