How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
FTC staff comments on CFPB proposed FDCPA rules
The Federal Trade Commission staff has submitted comments to the CFBP regarding proposed rules that implement the Fair Debt Collection Practices Act (FDCPA). Their comments included:
- changes that would improve the types of information debt collectors are required to provide to people from whom they are attempting to collect and how, when, and where collectors are allowed to make contact with consumers
- issues around debt that has passed the statute of limitations, the sale and transfer of debt, the collection of debts involving people who are deceased, and restrictions on the disclosure of information about debt to third parties