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Why?
Because, if you don’t, you risk the fines
of regulators, as well as, costs and
potential awards from consumer lawsuits.
Good
compliance practices contributes to
financial well-being and reduced risk. It
also demonstrates to employees the levels of
enforcement that you demand to protect your
company. Regulatory compliance is intended
to protect consumers by requiring companies
to incorporate certain policies and
procedures into their business operations,
especially in the debt collection industry
where consumer information security and
privacy are of prime concern.
Compliance with good internal policies and
procedures contribute to improved revenues
and profits which ultimately justify the
costs of compliance.
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