Description
Maneuver through complex topics gracefully by exploring several key concepts that frontline personnel encounter on a daily basis.
The business is the first line of defense for compliance issues. Each and every day, they are interacting with your customers through letters, monthly statements, over the phone and text messages. What processes do you have in place to make sure that what they say complies with your legal and regulatory obligations? This presentation will walk through implementation of COVID19 legal and regulatory requirements as a test case on what steps you should take to ensure the business is set up for success and so your organization can reduce risk. We will walk through best practices on implementation, discuss legal cases that touch on these issues, and end with an enforcement action brought by the OCC that highlights potential pain points when implementing new laws and regulations.
Date: 2023-05-17 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to to describe what the first line of defense is, and why it is important.
* You will be able to explain why updating your policies and procedures along with training materials for the business is a key element in reducing risk and complying with legal and regulatory requirements
* You will be able to identify potential gaps in your current processes that are potentially increasing your risk.
* You will be able to recognize opportunities to improve your compliance with the Fair Credit Reporting Act.