Banking and non-banking
Examiners found that one or more debt collectors claimed and collected from consumers, interest not authorized by the underlying contracts between the debt collectors and the creditors.
Collection of an unauthorized debt by falsely representing the amounts due is a direct FDCPA violation prohibiting the use of any false, deceptive, or misleading representation or means in the collection of any debt
The Copasys® solution:
Initiating certain debt collection testing rules coupled with effective remediation activities helps: