Ethical Considerations When Collecting from Vulnerable Customers

This topic will examine different ethical approaches to a variety of consumer collection situations that arise with particular groups of people like active duty military, disabled, elderly, or ill consumers. The content will provide examples of specific policies and procedures that can be incorporated into your Compliance Management System (CMS) to prepare your agents to address vulnerable consumers in an ethical manner.

In this material you will learn: 1) how to define ethics, 2) ethical principles in use in the financial services industry, 3) ways to implement ethics into your CMS, 4) the cost benefits of implementing high ethical standards, 5) what types of collection issues certain groups of consumers face and 6) ethical models to implement in working with vulnerable consumers.

Whatever stage of development your CMS is at, you can benefit from this in-depth look at the practice of ethics-driven compliance management systems to successfully interact with all consumers.

Learning Objectives:

• You will be able to describe the cost benefits of high ethical standards in collections.
• You will be able to discuss how to incorporate an ethical risk assessment into your compliance management system.
• You will be able to identify ethical approaches to various vulnerable consumer situations.
• You will be able to review your policies and procedures for ethical holes.

This Live Webinar Covers These Hot Issues:

Part One: Setting Ethical Standards for Collections

• Defining Ethics
  
• Golden Rule
  
• Company Values/Morals
  
• Ethics in the Compliance Management System
  
• Policies and Procedures
  
• Ethical Risk Assessment
  
• Employee Engagement (Making Ethics a Part of the Day to Day)
  
• Ethical Approaches to Consumer Collection Situations
  
• Active Duty Military
  
• Death
  
• Disability
  
• Disparate Impact
  
• Elder Consumers
  
• Financial Distress
  
• Hospitalization
  
• Suicide

Part Two: Cost Benefit of High Ethical Standards

• Reputational Cost
  
• Public Perspective
  
• Client Perspective
  
• Employee Perspective
  
• Financial Cost
  
• CFPB/State Regulator
  
• Lawsuits

Credit Information (Sponsored by Lorman Education Services)

• CLE
• CPE
• NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Kelly Knepper-Stephens, Stoneleigh Recovery Associates, LLC

• General counsel and chief compliance officer at Stoneleigh Recovery Associates, LLC
• Practice emphasizes all aspects of government regulation, compliance, and civil litigation; advising on the FDCPA, FCRA, TCPA, GLBA, HIPAA, and other federal and state regulations
• Conducts seminars and workshops regarding FDCPA, TCPA, HIPAA, ethics and professional responsibility
• Member and Certified Receivables Compliance Professional of Debt Buyer’s Association International; member MAP Attorney Program and Credit & Collection Compliance Officer designation of the American Collectors Association; member InsideARM Compliance Professional’s Forum
• Named one of the Top 25 Women in Collections by Collection Advisor magazine in 2016
• Barred in California, D.C., Illinois and Maryland
• J.D. degree, George Washington University Law School
• Can be contacted at 630-396-8087 or kstephens@stoneleigh.biz