The CFPB Ruling on UDAAP & Collecting Past Due Accounts

This webinar will provide you with best practices, examples of collection letters, reporting your adverse consumer information, and scripts that really work when used at the right time in the collection process. 

Managing your bank’s slow pays just got tougher! The Consumer Financial Protection Board (CFPB) new rule addresses how Banks (FIRST PARTY COLLECTORS) collect their past due accounts. We will discuss the CFPB’s new ruling including the hurdles you can expect to jump regarding Unfair, Deceptive or Abusive, Acts and Practices (UDAAP) and their examples of practices to avoid which resemble 3rd party collector requirements. We will also spend our time discussing collection skills, being consistent, and updating your policy and procedures to handle the changes coming your way. Additionally, we will highlight red flags and offer tips on identifying loans before they become delinquent. 


Overview of Credit & Collections

  • Fair Credit Reporting Act (FCRA)/Fair & Accurate Credit Transaction Act (FACTA)
  • Fair Debt Collection Practices Act: 1st Party & 3rd party collecting guidelines
  • Consumer Financial Protection Bureau: 1st party collecting, & UDAAP issues in collecting

Policy and Procedures

  • 7 tips your policy must have to help collect your money
  • Reviewing the credit application for Red Flags and ID Fraud


  • Notices vs Letters: Design the perfect Collection Letter
  • FACTA REG V Compliance
  • Email dos and don’ts

Calling Consumer

  • Motivate the customer to pay in full with one call
  • Enhancing your negotiation skills and work outs
  • Learn the real reason they are not paying you
  • Find overlooked sources of money

Collection Tools

  • Using credit reports to uncover facts about consumers
  • Select the right collection agency or attorney: Are they FDCPA & FACTA Compliant?
  • Using the WEB as a great skip tracing tool
  • Reporting the Banks past due customers through Metro2 & E-OSCAR & FCRA/FACTA Compliance


  • Putting this knowledge into action


This informative session is designed for new and seasoned Consumer & Commercial Lenders and Collection Staff, but is beneficial for CEOs, CFOs, Directors, Presidents, Compliance/Risk Officers, Credit Analyst, Trainers, CSRs and anyone responsible for establishing & maintaining credit & collection policy & procedures.


Greg Souther is President of Greg Souther Consulting & Seminars (www.gregsouther.com) a firm that provides training and consulting to Financial Institutions in the following areas: Customer Service & Communication; Credit, Collection, & Compliance; Fraud Prevention & Information Security; and Marketing & Sales.
With over 28 years of training and speaking experience, Greg and his associates share practical “how to” advice that everyone can easily understand and use in their daily work environment.
Greg was Co-Owner and Manager of The Credit Bureaus of Southeast Georgia, the parent company for six Credit Reporting and Collection Agencies based in Brunswick, Georgia. Other Management, Marketing, and Human Resource experience includes Credifax, formerly the Credit Bureau of Jacksonville, the Credit Bureau of Valdosta, and the Credit Bureau of Athens.

Credit Information

Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 hrs.


Either Live or 6-Month On-Demand Webinar: $255

Both Live and 6-Month On-Demand Webinar: $355


Online: Click here.

Phone: Call Total Training Solutions at (800) 831-0678

Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.