Consumer Finance Report

Back to Basics Continued—Required Disclosures or Notices, and Policies

October 26, 2022

United States: I write often about the many federal regulations that require consumer finance companies to adopt policies and disclosures consistent with such policies. Under some of these regulations it is not sufficient to merely give the required disclosures.

Back to Basics Continued—Electronic Record Keeping

October 19, 2022

United States: I have written often about electronic signatures (Electronic Signatures, Do you have your electronic signature solution in place?), electronic transactions (Electronic Commerce and Doing Business Remotely!, From Touch to Text, or Conducting Business Electronically) and doing business electronically (Steps to Making Loans Electronically).

Back to Basics Continued—Loans-By-Mail or Live Checks!

October 12, 2022

United States: Sometimes I am absolutely certain that I have covered a consumer finance topic—only to realize after diligently searching, that I have not. The subject of Loans-By-Mail (also known as Live Checks and Checks-in-the-Mail) is such a topic.

Back to Basics Continued—Advice from the Telephone Doctor

October 5, 2022

United States: From time to time, I write about customer service. See Back to Basics, Continued — It Really Is All About Customer Service and Back to Basics, Continued — Customer Service, Again.

Back to Basics Continued—Unsolicited Text Messaging

September 28, 2022

United States: The Telephone Consumer Protection Act (TCPA) sets forth the guidelines and restrictions in communicating with consumers via landlines, cell phones and text messaging.

Back to Basics Continued—Data Security

September 21, 2022

United States: Data security remains a hot topic. Data Security though is a topic that just doesn’t rest.

Back to Basics Continued—Competition!

September 14, 2022

United States: Fair competition is the lifeblood of capitalism. Every significant advance in consumer products and services has come because of competition from producers and sellers. Competition keeps all of us on our toes—because we know that our competitors are always trying to build a better mouse trap.

Back to Basics, Continued—What to Do About Lost Loan Documents?

September 7, 2022

United States: In every business, there arises the question as to what to do about lost documents. This is especially true in the consumer finance business where the entire asset value of the business is caught up in the existence of the notes receivable.

Back to Basics, Continued—Why Does Your Bank Ask for Your Anti-Money Laundering Policy?

August 31, 2022

United States: Anti-Money Laundering Policies are required by the Financial Crimes Enforcement Network (FinCen) of Money Service Businesses (MSB).

Back to Basics, Continued—What Does a Consumer Warranty and the FTC Holder in-Due-Course Rule Have in Common?

August 24, 2022

United States: I have written several times about the Federal Trade Commission’s Trade Regulation Rule pertaining to the preservation of consumers’ claims and defenses (the FTC Rule).