insideARM Executive Interview: Todd Meeks, Director of Product Management, Neustar
Regulation F from the Consumer Financial Protection Bureau (CFPB) threatens to upend collectors’ outbound communications models. Collectors may make only seven phone call attempts in a seven-day period under the regulation—the so-called “seven-in-seven rule.”
The seven-in-seven rule exacerbates legacy challenges that have depressed collectors’ right-party-contact (RPC) rates for years. Once tolerable costs of doing business, Regulation F transforms these challenges into significant threats against business solvency: calls errantly blocked and mislabeled as spam, consumer data that is incomplete or outdated, and a lack of insight into consumer communication behavior (e.g., preferred channel, phone number, or call time).
insideARM President and CEO Stephanie Eidelman interviewed Neustar Director of Product Management Todd Meeks about the regulation’s potential ramifications and opportunities:
- Why a one-call-per-day approach exacerbates legacy challenges to outbound communication
- How forward-thinking collectors are preparing to comply with Regulation F, uphold profit margins, and contact consumers faster than competitors
- How to contact hard-to-reach consumers by leveraging SMS text messages and emails strategically