1 Customer

  • Auto Loan Servicer

2 Business Situation

  • The examiners found that the furnishers’ policies and procedures did not provide sufficient guidance for conducting reasonable investigations of indirect disputes that contain allegations of identity theft.
  • Impact - Failure to furnish Comprehensive policies and procedures prevents the reviewer from accurately investigating and resolving a legit Identity Theft dispute raised by the consumer.

3 Solutioning

  • SLK’s compliance audit and QC platform, Copasys:
    • Highlights loans where identity theft disputes has been received.
    • Lists step-by-step process for the examiners/auditors to follow to accurately investigate and complete the review.

4 Execution

  • Audit result is published as ‘Compliant’ when all the listed guidelines are followed accurately and ‘Non-compliant’ when the listed guidelines are not followed at all or when the investigation is completed without reviewing all the listed steps.

5 Value Delivered

Initiating certain dispute related rules along with effective remediation activities helps:
  • Significantly reduce the consumers’ risk of inappropriate and/ or invalid debt collection practices and property loss.