How to Make Every Call, Text, and Email Count with CFPB’s Regulation F
Collections Industry Brief
When the CFPB’s Regulation F goes into enforcement, collections organizations will have a choice. The easiest path—making one call per day—guarantees compliance with the seven-in-seven rule in Regulation F but achieves little else. Collectors that take a one-call-per-day approach risk falling behind competitors, collapsing profit margins, and squandering resources and contact attempts.
Forward-thinking collections organizations are adopting new communications technologies and operational strategies that allow optimal outreach for maximum ROI. This alternate approach, based on an intelligent omnichannel strategy, complies with both the spirit and the word of Regulation F, improves RPC rates, and allows for faster contact than competitors that fail to adapt.
To thrive in a Regulation F environment, collectors must make every call, text, and email count: mitigating errant call blocking and spam-mislabeling, keeping consumer data up-to-date, and determining the best times, days, and channels to reach out to each individual consumer.
Download this industry brief to learn how forward-thinking collections organizations lay a foundation for success in the era of Regulation F.