Ethical Considerations When Collecting from Vulnerable Customers

Understand the ethical approaches that matter when collections are necessary with vulnerable customers.

This topic will examine different ethical approaches to a variety of consumer collection situations that arise with particular groups of people like active duty military, disabled, elderly, or ill consumers. The content will provide examples of specific policies and procedures that can be incorporated into your Compliance Management System (CMS) to prepare your agents to address vulnerable consumers in an ethical manner. In this material you will learn: 1) how to define ethics, 2) ethical principles in use in the financial services industry, 3) ways to implement ethics into your CMS, 4) the cost benefits of implementing high ethical standards, 5) what types of collection issues certain groups of consumers face and 6) ethical models to implement in working with vulnerable consumers. Whatever stage of development your CMS is at, you can benefit from this in-depth look at the practice of ethics-driven compliance management systems to successfully interact with all consumers.

Faculty

Kelly Knepper-Stephens

TrueAccord