CFPB Notice of Proposed Rulemaking

Responding to the CFPB’s Proposed Rules

As the industry continues to digest the CFPB’s Notice of Proposed Rulemaking, RevSpring’s Financial Services President John Telford and Chief Compliance Officer and General Counsel Rob Horwitz sat down to discuss the highlights. Key topics covered include:

How soon do we expect the industry be required to comply
Best practices on providing comments back to the CFPB
Digital communication compliance, including safe harbors
Model validation notice
Record retention requirements

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RevSpring recognizes that engaging consumers to meet their financial obligations under strict compliance regulations, legal challenges and cost pressures is not for the faint of heart. Our team of experts continues to support your organization as you provide outstanding and compliant services in a complex regulatory environment. RevSpring’s team will continue to review the proposed rules to ensure all products and services comply.

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Disclaimer: RevSpring, Inc., is a technology company and provides this podcast solely for general informational and marketing purposes. You should not rely on the content of this material for any other purpose or as specific guidance for your company. You are ultimately responsible for your own company’s actions and compliance efforts. Because everyone’s situation is different, you must consult your own attorneys, accountants, and/or other advisors to obtain specific advice on your company’s compliance, legal, tax, regulatory and/or other business needs. Despite RevSpring’s efforts to provide current and up-to-date information, you need to recognize that the information contained herein may become outdated quickly and may contain errors and/or other inaccuracies.