VPCS Awards EPCVIP Compliance Certification

VP Compliance Services Vendor Certification program is an extensive review and audit of lead gen vendors. A VPCS Certified Vendor is a vendor a lender can trust when looking to purchase leads.

VP Compliance Services is pleased to announce EPCVIP has passed required elements of our Lead Gen Compliance Certification Program.

The Lead Gen Compliance Certification Review examined the following areas (listed below) and found EPCVIP to be operating a compliant organization as of the date of the review and passed our background review.

Please consider EPCVIP for any future lead gen services.

For any questions regarding our Vendor Certification Program please contact Rick Wittwer at (877) 350-9933 X5 or wrw@vpcs.biz. The elements of the certification review EPCVIP passed are listed below:

VPCS Lead Gen CertificationDescriptionComments
Date Certified Date vendor passed the certification auditRe-audited yearly
Certifications & AccreditationsDescriptionComments
Online Lenders AccreditationDetailed examination of lenders policies and proceduresCurrent
Liens, Actions, Fines, InvestigationsDescriptionComments
Company Background CheckBackground check of company and associated companiesPassed
Principal Owners Background CheckBackground check of principalsPassed
Required LicensesDescriptionComments
Corporate RegistrationReview of state and federal corporate registrationsCurrent
State Registrations & BondsReview of state registrations and bondsComplete and current
Collections License ReviewAll required licences reviewedComplete and current
Agreement Review - ClientDescriptionComments
VendorExamined for required elements of agreementsPassed
Policy and Procedure ReviewDescriptionComments
Identity AuthenticationPolicy Exists
Procedure(s) Exists
Passed
GLBAPolicy Exists
Procedure(s) Exists
Passed
Privacy Policy Exists
Procedure(s) Exists
Passed
Record RetentionPolicy Exists
Procedure(s) Exists
Passed
SCRA / MLAPolicy Exists
Procedure(s) Exists
Passed
UDAAPPolicy Exists
Procedure(s) Exists
Passed
Vendor ManagementPolicy Exists
Procedure(s) Exists
Passed
TCPAPolicy Exists
Procedure(s) Exists
Passed
Information Security (GLBA)DescriptionComments
PCI ScanPerformed on all IP addressesPassed
Written Security ProgramProgram Policy Exists
Passed
Information Encryption used when transferring dataProgram Policy ExistsPassed
Network MonitoringVendor in placePassed
Firewalls installed Reviewed firewall technology and vendorPassed
Default passwords and Security Parameters updatedPolicy Exists
Procedure(s) Exists
Passed
Protection against system attacksTechnology exists
Adequate practice of testing
Restricted access to Sensitive InformationPolicy Exists
Procedure(s) Exists
Passed
Secure development of system and applicationsPolicy Exists
Passed
AuditsReviewed audit schedule and resultsPassed
Physical SecurityPolicy ExistsReviewed audits - passed
Clean Desk PolicyPolicy Exists
reviewed audit
Passed
Facility Access MonitoringPolicy Exists
reviewed audit and logs
Passed
TrainingDescriptionComments
FDCPAReview of adequacy and frequency of trainingPassed
TCPAReview of adequacy and frequency of trainingPassed
Vendor ReviewDescriptionComments
Ongoing Monitoring (reporting, audits, monitoring, reviews)Reviewed audit frequency and findingsPassed
On Boarding (Questionnaire, Contract Review, Background checks, References)Policy Exists
Reviewed audits and frequency
Passed
Vendor AgreementReviewed agreements of TPPPs and ODFIsPassed
Compliance Management ProgramDescriptionComments
OversightReviewed organizational structure, authority, and personnel Passed
MonitoringReviewed monitoring programs for adequacy and frequencyPassed
TrainingReviewed training programsPassed
Complaint ManagementReviewed program, system to manage, and inability to editPassed
Written Policies and ProceduresPolicy Exists
Procedure(s) Exists
Passed
Public Internet SearchDescriptionComments
Vendor Name/KeywordPerformed searches and examined all postsAcceptable results
CFPB Complaint DatabaseExamined CFPB complaints, resolutions, and response timingPassed

VPCS Awards Fast 1K Loans Compliance Certification

VP Compliance Services Vendor Certification program is an extensive review and audit of lead gen vendors. A VPCS Certified Vendor is a vendor a lender can trust when looking to purchase leads.

VP Compliance Services is pleased to announce Fast 1K Loans has passed required elements of our Lead Gen Compliance Certification Program.

The Lead Gen Compliance Certification Review examined the following areas (listed below) and found Fast 1K Loans to be operating a compliant organization as of the date of the review and passed our background review.

Please consider Fast 1K Loans for any future lead gen services.

For any questions regarding our Vendor Certification Program please contact Rick Wittwer at (877) 350-9933 X5 or wrw@vpcs.biz. The elements of the certification review Fast 1K Loans passed are listed below:

VPCS Lead Gen CertificationDescriptionComments
Date Certified Date vendor passed the certification auditRe-audited yearly
Certifications & AccreditationsDescriptionComments
Online Lenders AccreditationDetailed examination of lenders policies and proceduresCurrent
Liens, Actions, Fines, InvestigationsDescriptionComments
Company Background CheckBackground check of company and associated companiesPassed
Principal Owners Background CheckBackground check of principalsPassed
Required LicensesDescriptionComments
Corporate RegistrationReview of state and federal corporate registrationsCurrent
State Registrations & BondsReview of state registrations and bondsComplete and current
Collections License ReviewAll required licences reviewedComplete and current
Agreement Review - ClientDescriptionComments
VendorExamined for required elements of agreementsPassed
Policy and Procedure ReviewDescriptionComments
Identity AuthenticationPolicy Exists
Procedure(s) Exists
Passed
GLBAPolicy Exists
Procedure(s) Exists
Passed
Privacy Policy Exists
Procedure(s) Exists
Passed
Record RetentionPolicy Exists
Procedure(s) Exists
Passed
SCRA / MLAPolicy Exists
Procedure(s) Exists
Passed
UDAAPPolicy Exists
Procedure(s) Exists
Passed
Vendor ManagementPolicy Exists
Procedure(s) Exists
Passed
TCPAPolicy Exists
Procedure(s) Exists
Passed
Information Security (GLBA)DescriptionComments
PCI ScanPerformed on all IP addressesPassed
Written Security ProgramProgram Policy Exists
Passed
Information Encryption used when transferring dataProgram Policy ExistsPassed
Network MonitoringVendor in placePassed
Firewalls installed Reviewed firewall technology and vendorPassed
Default passwords and Security Parameters updatedPolicy Exists
Procedure(s) Exists
Passed
Protection against system attacksTechnology exists
Adequate practice of testing
Restricted access to Sensitive InformationPolicy Exists
Procedure(s) Exists
Passed
Secure development of system and applicationsPolicy Exists
Passed
AuditsReviewed audit schedule and resultsPassed
Physical SecurityPolicy ExistsReviewed audits - passed
Clean Desk PolicyPolicy Exists
reviewed audit
Passed
Facility Access MonitoringPolicy Exists
reviewed audit and logs
Passed
TrainingDescriptionComments
FDCPAReview of adequacy and frequency of trainingPassed
TCPAReview of adequacy and frequency of trainingPassed
Vendor ReviewDescriptionComments
Ongoing Monitoring (reporting, audits, monitoring, reviews)Reviewed audit frequency and findingsPassed
On Boarding (Questionnaire, Contract Review, Background checks, References)Policy Exists
Reviewed audits and frequency
Passed
Vendor AgreementReviewed agreements of TPPPs and ODFIsPassed
Compliance Management ProgramDescriptionComments
OversightReviewed organizational structure, authority, and personnel Passed
MonitoringReviewed monitoring programs for adequacy and frequencyPassed
TrainingReviewed training programsPassed
Complaint ManagementReviewed program, system to manage, and inability to editPassed
Written Policies and ProceduresPolicy Exists
Procedure(s) Exists
Passed
Public Internet SearchDescriptionComments
Vendor Name/KeywordPerformed searches and examined all postsAcceptable results
CFPB Complaint DatabaseExamined CFPB complaints, resolutions, and response timingPassed

VPCS Awards 24/7LoanPros Compliance Certification

VP Compliance Services Vendor Certification program is an extensive review and audit of lead gen vendors. A VPCS Certified Vendor is a vendor a lender can trust when looking to purchase leads.

VP Compliance Services is pleased to announce 24/7LoanPros has passed required elements of our Lead Gen Compliance Certification Program.

The Lead Gen Compliance Certification Review examined the following areas (listed below) and found 24/7LoanPros to be operating a compliant organization as of the date of the review and passed our background review.

Please consider 24/7LoanPros for any future lead gen services.

For any questions regarding our Vendor Certification Program please contact Rick Wittwer at (877) 350-9933 X5 or wrw@vpcs.biz. The elements of the certification review 24/7LoanPros passed are listed below:

VPCS Lead Gen CertificationDescriptionComments
Date Certified Date vendor passed the certification auditRe-audited yearly
Certifications & AccreditationsDescriptionComments
Online Lenders AccreditationDetailed examination of lenders policies and proceduresCurrent
Liens, Actions, Fines, InvestigationsDescriptionComments
Company Background CheckBackground check of company and associated companiesPassed
Principal Owners Background CheckBackground check of principalsPassed
Required LicensesDescriptionComments
Corporate RegistrationReview of state and federal corporate registrationsCurrent
State Registrations & BondsReview of state registrations and bondsComplete and current
Collections License ReviewAll required licences reviewedComplete and current
Agreement Review - ClientDescriptionComments
VendorExamined for required elements of agreementsPassed
Policy and Procedure ReviewDescriptionComments
Identity AuthenticationPolicy Exists
Procedure(s) Exists
Passed
GLBAPolicy Exists
Procedure(s) Exists
Passed
Privacy Policy Exists
Procedure(s) Exists
Passed
Record RetentionPolicy Exists
Procedure(s) Exists
Passed
SCRA / MLAPolicy Exists
Procedure(s) Exists
Passed
UDAAPPolicy Exists
Procedure(s) Exists
Passed
Vendor ManagementPolicy Exists
Procedure(s) Exists
Passed
TCPAPolicy Exists
Procedure(s) Exists
Passed
Information Security (GLBA)DescriptionComments
PCI ScanPerformed on all IP addressesPassed
Written Security ProgramProgram Policy Exists
Passed
Information Encryption used when transferring dataProgram Policy ExistsPassed
Network MonitoringVendor in placePassed
Firewalls installed Reviewed firewall technology and vendorPassed
Default passwords and Security Parameters updatedPolicy Exists
Procedure(s) Exists
Passed
Protection against system attacksTechnology exists
Adequate practice of testing
Restricted access to Sensitive InformationPolicy Exists
Procedure(s) Exists
Passed
Secure development of system and applicationsPolicy Exists
Passed
AuditsReviewed audit schedule and resultsPassed
Physical SecurityPolicy ExistsReviewed audits - passed
Clean Desk PolicyPolicy Exists
reviewed audit
Passed
Facility Access MonitoringPolicy Exists
reviewed audit and logs
Passed
TrainingDescriptionComments
FDCPAReview of adequacy and frequency of trainingPassed
TCPAReview of adequacy and frequency of trainingPassed
Vendor ReviewDescriptionComments
Ongoing Monitoring (reporting, audits, monitoring, reviews)Reviewed audit frequency and findingsPassed
On Boarding (Questionnaire, Contract Review, Background checks, References)Policy Exists
Reviewed audits and frequency
Passed
Vendor AgreementReviewed agreements of TPPPs and ODFIsPassed
Compliance Management ProgramDescriptionComments
OversightReviewed organizational structure, authority, and personnel Passed
MonitoringReviewed monitoring programs for adequacy and frequencyPassed
TrainingReviewed training programsPassed
Complaint ManagementReviewed program, system to manage, and inability to editPassed
Written Policies and ProceduresPolicy Exists
Procedure(s) Exists
Passed
Public Internet SearchDescriptionComments
Vendor Name/KeywordPerformed searches and examined all postsAcceptable results
CFPB Complaint DatabaseExamined CFPB complaints, resolutions, and response timingPassed

VPCS Awards Viking Payment Processor Compliance Certification

Irvine, CA (May 03, 2016)  VP Compliance Services (VPCS) is proud to announce Viking Billing Services has met the requirements of the VPCS Payment Processor Vendor Certification Program.

The VPCS Vendor Certification Program is a detailed review of vendors operational controls; policies, procedures, training, internal monitoring, data management and security. It also is a review of a vendors background (fees, fines, judgments, liens, BK, regulatory actions, and more). Details on the VPCS Vender Compliance Certification Program can be found on the VPCS website at www.vpcs.biz.

Rick Wittwer, General Partner of VPCS stated, A lender can rely on a VPCS Certified Vendor as having operational controls in place to effectively provide services to their clients. A VPCS Certified vendor will also have passed a background review related to its operating history. VPCS Compliance Certified Vendor should be considered when a lender is looking for payment processing services and when considering a new vendor relationship. Through our investigation and review, Viking Billing Services is a well managed and compliant payment processor.

John OShea, President of Viking Billing Services, said We are very pleased to be recognized as a customer-centric and compliant leader in our field.

About VP Compliance Services

VP Compliance Services (VPCS) is a leading provider of compliance and operational services to the on-line lending industry (state licensed and tribal). Our service offerings support a broad spectrum of credit-related financial services including federal regulatory compliance, program operations, lender audit programs, lender risk assessments, compliance training, complaint management, vendor reviews, vendor certification and temporary staffing of compliance and information security personnel. For more information please contact Rick Wittwer at (877) 350-9933 X5 or wrw@vpcs.biz.

About Viking Billing Services

In business since 1969, Viking is a first-rate provider of ACH and RCC payment processing. Viking Billing Services is headquartered in Minneapolis, MN and operates on a national basis. A member of the Third Party Payment Processor Association and an affiliate member of NACHA (Upper Midwest), we leverage state-of-the-art analytics and customer-facing technology to deliver compliance driven results. For more information please contact John OShea at (952) 944-7575 or joshea@vikingservice.com

The elements of the certification passed are listed below:

VPCS Call Center Certification
Date Certified Date vendor passed the certification auditRe-audited yearly
04/15/201604/12/2016Yes
Certifications & Accreditations
American Collectors AssociationReview of Policies and ProceduresCurrent
Liens, Actions, Fines, Investigations
Company Background CheckBackground check of company and associated companiesPassed
Principal Owners Background CheckBackground check of principalsPassed
Required Licenses
Corporate RegistrationReview of state and federal corporate registrationsCurrent
State Registrations & BondsReview of state registrations and bondsComplete and current
Collections License ReviewAll required licences reviewedComplete and current
Policy and Procedure Review
Identity AuthenticationPolicy Exists
Procedure(s) Exists
Passed
GLBAPolicy Exists
Procedure(s) Exists
Passed
Privacy Policy Exists
Procedure(s) Exists
Passed
Record RetentionPolicy Exists
Procedure(s) Exists
Passed
SCRA / MLAPolicy Exists
Procedure(s) Exists
Passed
UDAAPPolicy Exists
Procedure(s) Exists
Passed
Vendor ManagementPolicy Exists
Procedure(s) Exists
Passed
TCPAPolicy Exists
Procedure(s) Exists
Passed
Information Security (GLBA)
PCI ScanPerformed on all IP addressesPassed
Written Security ProgramProgram Policy Exists
Passed
Information Encryption used when transferring dataProgram Policy ExistsPassed
Network MonitoringVendor in placePassed
Firewalls installed Reviewed firewall technology and vendorPassed
Default passwords and Security Parameters updatedPolicy Exists
Procedure(s) Exists
Passed
Protection against system attacksTechnology exists
Adequate practice of testing
Restricted access to Sensitive InformationPolicy Exists
Procedure(s) Exists
Passed
Secure development of system and applicationsPolicy Exists
Passed
AuditsReviewed audit schedule and resultsPassed
Physical SecurityPolicy ExistsReviewed audits - passed
Clean Desk PolicyPolicy Exists
reviewed audit
Passed
Facility Access MonitoringPolicy Exists
reviewed audit and logs
Passed
Training
FDCPAReview of adequacy and frequency of trainingPassed
TCPAReview of adequacy and frequency of trainingPassed
Compliance TrainingReview of adequacy and frequency of trainingPassed
Compliance Management Program
OversightReviewed organizational structure, authority, and personnel Passed
MonitoringReviewed monitoring programs for adequacy and frequencyPassed
TrainingReviewed training programsPassed
Complaint ManagementReviewed program & system to managePassed
Written Policies and ProceduresPolicy Exists
Procedure(s) Exists
Passed
Public Internet Search
Vendor Name/KeywordPerformed searches and examined all postsAcceptable results
CFPB Complaint DatabaseExamined CFPB complaints, resolutions, and response timingPassed

VPCS Awards Viking Call Center Compliance Certification

Irvine, CA (April 29, 2016)  VP Compliance Services (VPCS) is proud to announce Viking Client Services has met the requirements of the VPCS Call Center Vendor Certification Program.

 

The VPCS Vendor Certification Program is a detailed review of vendors operational controls; policies, procedures, training, internal monitoring, data management and security. It also is a review of a vendors background (fees, fines, judgments, liens, BK, regulatory actions, and more). Details on the VPCS Vender Compliance Certification Program can be found on the VPCS website at www.vpcs.biz.

Rick Wittwer, General Partner of VPCS stated, A lender can rely on a VPCS Certified Vendor as having operational controls in place to effectively provide services to their clients. A VPCS Certified vendor will also have passed a background review related to its operating history. A VPCS Compliance Certified Vendor should be considered when a lender is looking to outsource call center services and when considering a new vendor relationship. Through our investigation and review, Viking Client Services is a well managed, compliant, and results driven call center business.

John OShea, President of Viking Client Services, said We are very pleased to be recognized as a customer-centric and compliant leader in our field.

About VP Compliance Services

VP Compliance Services (VPCS) is a leading provider of compliance and operational services to the on-line lending industry (state licensed and tribal). Our service offerings support a broad spectrum of credit-related financial services including federal regulatory compliance, program operations, lender audit programs, lender risk assessments, compliance training, complaint management, vendor reviews, vendor certification and temporary staffing of compliance and information security personnel. For more information please contact Rick Wittwer at (877) 350-9933 X5 or wrw@vpcs.biz.

About Viking Client Services

In business since 1969, Viking is a first-rate provider of billing, collections, insurance subrogation and consumer loan services. Viking Client Services is headquartered in Minneapolis, MN and operates on a national basis. Fully licensed, bonded and insured, we leverage state-of-the-art analytics and customer-facing technology to deliver compliance driven results. For more information please contact John OShea at (952) 944-7575 or joshea@vikingservice.com

The elements of the certification passed are listed below:

VPCS Call Center Certification
Date Certified Date vendor passed the certification auditRe-audited yearly
04/15/201604/12/2016Yes
Certifications & Accreditations
American Collectors AssociationReview of Policies and ProceduresCurrent
Liens, Actions, Fines, Investigations
Company Background CheckBackground check of company and associated companiesPassed
Principal Owners Background CheckBackground check of principalsPassed
Required Licenses
Corporate RegistrationReview of state and federal corporate registrationsCurrent
State Registrations & BondsReview of state registrations and bondsComplete and current
Collections License ReviewAll required licences reviewedComplete and current
Policy and Procedure Review
Identity AuthenticationPolicy Exists
Procedure(s) Exists
Passed
GLBAPolicy Exists
Procedure(s) Exists
Passed
Privacy Policy Exists
Procedure(s) Exists
Passed
Record RetentionPolicy Exists
Procedure(s) Exists
Passed
SCRA / MLAPolicy Exists
Procedure(s) Exists
Passed
UDAAPPolicy Exists
Procedure(s) Exists
Passed
Vendor ManagementPolicy Exists
Procedure(s) Exists
Passed
TCPAPolicy Exists
Procedure(s) Exists
Passed
Information Security (GLBA)
PCI ScanPerformed on all IP addressesPassed
Written Security ProgramProgram Policy Exists
Passed
Information Encryption used when transferring dataProgram Policy ExistsPassed
Network MonitoringVendor in placePassed
Firewalls installed Reviewed firewall technology and vendorPassed
Default passwords and Security Parameters updatedPolicy Exists
Procedure(s) Exists
Passed
Protection against system attacksTechnology exists
Adequate practice of testing
Restricted access to Sensitive InformationPolicy Exists
Procedure(s) Exists
Passed
Secure development of system and applicationsPolicy Exists
Passed
AuditsReviewed audit schedule and resultsPassed
Physical SecurityPolicy ExistsReviewed audits - passed
Clean Desk PolicyPolicy Exists
reviewed audit
Passed
Facility Access MonitoringPolicy Exists
reviewed audit and logs
Passed
Training
FDCPAReview of adequacy and frequency of trainingPassed
TCPAReview of adequacy and frequency of trainingPassed
Compliance TrainingReview of adequacy and frequency of trainingPassed
Compliance Management Program
OversightReviewed organizational structure, authority, and personnel Passed
MonitoringReviewed monitoring programs for adequacy and frequencyPassed
TrainingReviewed training programsPassed
Complaint ManagementReviewed program & system to managePassed
Written Policies and ProceduresPolicy Exists
Procedure(s) Exists
Passed
Public Internet Search
Vendor Name/KeywordPerformed searches and examined all postsAcceptable results
CFPB Complaint DatabaseExamined CFPB complaints, resolutions, and response timingPassed

3rd Party Vendor Management Services

Comprehensive Third Party Vendor Oversight

Consumers are at a real disadvantage because they do not get to choose the service providers they deal with the financial institution does, said CFPB Director Richard Cordray.
Consumers must not be hurt by unfair, deceptive, or abusive practices of service providers. Banks and nonbanks must manage these relationships carefully and can be held accountable if they break the law. CFPB

 

To satisfy Regulators, your third party oversight program must be comprehensive. What are the elements of a comprehensive third party oversight program?

 

Development of the Underpinnings

On-boarding

What are the elements of a Prospective Vendor Questionnaire? Which policies and procedures should you require? What kind of Background Check should you perform? Should you examine the vendors training program? What about their regulatory complaints? Anything else?

Underwriting

Underwriting relates to the logic or grading system you use to evaluate a prospective Vendors questionnaire, policies, background check results, types and quantity of regulatory complaints, and more.

Ongoing Audit Elements

For your existing vendors, ongoing audits are a requirement. This way, you will be able to demonstrate to regulators that your ongoing vendor monitoring is comprehensive and regular.

What should be included in your audit? Should it differ by vendor type? How frequent should I perform? How should I evaluate the audit results? What should I do if the vendor fails an audit?

Policy

Now that you have completed you onboarding elements, underwriting rules and the composition and frequency of you ongoing audits, its time to write your 3rd Party Vendor Management Policy. What should it include?

Need-Help-300x90

Regulatory Compliance Policies & Procedures

Online Storefront Auto MSBA Commercial

Policies and Procedures describe a company’s operating practices and how they adhere to consumer protection laws. They are active and live documents that are expected to change as a company finds defects in their operations.

Any change to a company’s practice covered policy or procedure must first be reviewed by a compliance committee and if agreed updated through the Change Management Policy instructions. Regulators will inspect your documents to insure lenders and servicers are following this process.

VP Compliance Services develops its clients policies and procedures to meet regulators expectations and train clients on how to operationalize and audit them.

New or mature lender or servicer? We can start anywhere!

  • Complete Policy & Procedure Development
  • Review and Update Your Policies
  • Audit Your Policies and Make Recommendations
  • CMS Document Development 1st Request from CFPB
contactus-orange

VPCS Awards Halsted Financial Services Call Center Compliance Certification

VP Compliance Services Vendor Certification program is an extensive review and audit of vendors and debt buyers. A VPCS Certified Vendor is a vendor or debt buyer a lender can trust when looking to outsource elements of their business or sell charged off accounts.

VP Compliance Services is pleased to announce Halsted Financial Services has passed required elements of our Call Center Compliance Certification Program.

The Call Center Compliance Certification Review examined the following areas (listed below) and found Halsted to be operating a compliant organization as of the date of the review and passed our background review.

Halsted Financial Services provides comprehensive call center services from three operating centers. Their facilities in Chicago, Honduras and The Philippines allow their customers to match skill sets to the best labor market and cost, provide for 24/7 coverage and insure capacity availability. They provide call center services including lead generation, sales verification and conversion, ongoing customer service and support, and delinquency management. For more information please contact Rick Arko @ 815-479-1072 or rick.arko@halstedfinancial.com.

Please consider Halsted for any future call center services.

For any questions regarding our Vendor Certification Program please contact Rick Wittwer at (877) 350-9933 X5 or wrw@vpcs.biz. The elements of the certification review Halsted passed are listed below:

VPCS Call Center CertificationDescriptionComments
Date Certified Date vendor passed the certification auditRe-audited yearly
Certifications & AccreditationsDescriptionComments
Online Lenders AccreditationDetailed examination of lenders policies and proceduresCurrent
ACA AccreditationDetailed review of debt buyer's policies and servicing practicesCurrent
Liens, Actions, Fines, InvestigationsDescriptionComments
Company Background CheckBackground check of company and associated companiesPassed
Principal Owners Background CheckBackground check of principalsPassed
Required LicensesDescriptionComments
Corporate RegistrationReview of state and federal corporate registrationsCurrent
State Registrations & BondsReview of state registrations and bondsComplete and current
Collections License ReviewAll required licences reviewedComplete and current
DNC Registry and unsubscribe maintenanceBased on marketing channelsCurrent and complete
Agreement Review - ClientDescriptionComments
VendorExamined for required elements of agreementsPassed
Policy and Procedure ReviewDescriptionComments
OFACPolicy Exists
Procedure(s) Exists
Passed
Payment ProcessingPolicy Exists
Procedure(s) Exists
Passed
BSA / AMLPolicy Exists
Procedure(s) Exists
Passed
EFTA / REG EPolicy Exists
Procedure(s) Exists
Passed
FCRA / FACTAPolicy Exists
Procedure(s) Exists
Passed
Identity AuthenticationPolicy Exists
Procedure(s) Exists
Passed
GLBAPolicy Exists
Procedure(s) Exists
Passed
Privacy Policy Exists
Procedure(s) Exists
Passed
Record RetentionPolicy Exists
Procedure(s) Exists
Passed
SCRA / MLAPolicy Exists
Procedure(s) Exists
Passed
UDAAPPolicy Exists
Procedure(s) Exists
Passed
FDCPAPolicy Exists
Procedure(s) Exists
Passed
Vendor ManagementPolicy Exists
Procedure(s) Exists
Passed
TCPAPolicy Exists
Procedure(s) Exists
Passed
Information Security (GLBA)DescriptionComments
PCI ScanPerformed on all IP addressesPassed
Written Security ProgramProgram Policy Exists
Passed
Information Encryption used when transferring dataProgram Policy ExistsPassed
Network MonitoringVendor in placePassed
Firewalls installed Reviewed firewall technology and vendorPassed
Default passwords and Security Parameters updatedPolicy Exists
Procedure(s) Exists
Passed
Protection against system attacksTechnology exists
Adequate practice of testing
Restricted access to Sensitive InformationPolicy Exists
Procedure(s) Exists
Passed
Secure development of system and applicationsPolicy Exists
Passed
AuditsReviewed audit schedule and resultsPassed
Physical SecurityPolicy ExistsReviewed audits - passed
Clean Desk PolicyPolicy Exists
reviewed audit
Passed
Facility Access MonitoringPolicy Exists
reviewed audit and logs
Passed
TrainingDescriptionComments
FDCPAReview of adequacy and frequency of trainingPassed
TCPAReview of adequacy and frequency of trainingPassed
Vendor ReviewDescriptionComments
Ongoing Monitoring (reporting, audits, monitoring, reviews)Reviewed audit frequency and findingsPassed
On boarding (Questionnaire, Contract Review, Background checks, References)Policy Exists
Reviewed audits and frequency
Passed
Payment ProcessingDescriptionComments
Vendor AgreementReviewed agreements of TPPPs and ODFIsPassed
NACHA RequirementsReview policy vs NACHA Best PracticesPassed
Statement ReviewReviewed statements to ensure performance within required threshholdPassed
Compliance Management ProgramDescriptionComments
OversightReviewed organizational structure, authority, and personnel Passed
MonitoringReviewed monitoring programs for adequacy and frequencyPassed
TrainingReviewed training programsPassed
Complaint ManagementReviewed program, system to manage, and inability to editPassed
Written Policies and ProceduresPolicy Exists
Procedure(s) Exists
Passed
Public Internet SearchDescriptionComments
Vendor Name/KeywordPerformed searches and examined all postsAcceptable results
CFPB Complaint DatabaseExamined CFPB complaints, resolutions, and response timingPassed

Collections

VP Compliance Services’ Compliance Certified Vender program is an extensive review and audit of a Call Center’s policies, procedures, training, background and more. A Compliance Certified Collections Call Center is a Collector a lender can trust when looking to consummate a new vendor relationship.

VPCS will display all Certified Collections Call Center’s audit and review results. Interested parties may reach the Collections Call Center’s certification page by clicking the VPCS Certified Vendor logo on the vendor’s website.

VPCS’ Vendor Certification program is not recommended to replace a lender’s own vendor review program. It may be used to help select a new Collections Call Center lender will select for consideration.

For more information on VPCS’ Vendor Certification program please contact William “Rick” Wittwer at wrw@vpcs.biz.

Collections Certification
Certifications & Accreditations
Description
Online Lenders (OLA) Accreditation
Certification
Debt Buyers Association
Certification
American Collectors Association
Accredidation
ISO
Certification
CLLA
Certification
SAS70
Certification
Company Background Check
Comments
Liens, Actions, Fines, Investigations
Lexus Nexus Company Background Check
CFPB, FTC, & State AGs
Regulator Check
Licensing, Registrations, Bonds, and Insurance
Comments
State Licenses and Bonds
Review
Errors & Ommissions Insurance
Coverage Levels
Contract Review
Comments
Client Placement Agreement
Review of key elements of the agreements
Polices and Procedures
Comments
Fair Lending
Review of Policy (does one exist and is it complete?)
Identity Authentication
Review of Policy (does one exist and is it complete?)
GLBA
Review of Policy (does one exist and is it complete?)
Privacy
Review of Policy (does one exist and is it complete?)
Record Retention
Review of Policy (does one exist and is it complete?)
SCRA / MLA
Review of Policy (does one exist and is it complete?)
UDAAP
Review of Policy (does one exist and is it complete?)
TILA
Review of Policy (does one exist and is it complete?)
Vendor Management
Review of Policy (does one exist and is it complete?)
TCPA
Review of Policy (does one exist and is it complete?)
Information Security
Review of Policy (does one exist and is it complete?)
Information Security (GLBA)
Comments
Written Security Program
Review of Policy (does one exist and is it complete?)
Information Encryption used when transferring data
Review of Policy (does one exist and is it complete?)
Network Monitoring
Is 3rd party vendor performing?
Firewalls installed
Reviewed firewall technology and vendor
Default passwords and Security Parameters updated
Review of Policy (does one exist and is it complete?)
Protection against system attacks
Technology exists and is utilized
Restricted access to Sensitive Information
Review of Policy (does one exist and is it complete?)
Secure development of system and applications
Review of Policy (does one exist and is it complete?)
Physical Security
Review of Policy (does one exist and is it complete?)
Clean Desk Policy
Review of Policy (does one exist and is it complete?)
Facility Access Monitoring
Review of Policy (does one exist and is it complete?)
Audits
Comments
3rd Party
Review of any 3rd party audits performed
Client Initiated
Review of any 3rd party audits performed
Training (Employee)
Comments
TCPA
Review of adequacy and frequency of training
UDAAP
Review of adequacy and frequency of training
FDCPA
Review of adequacy and frequency of training
New Client On-Boarding
Comments
On Boarding
Review of Prospective Client Questionnaire, Contract Review, Background checks, & References
Underwriting
Review of Quantitative Decision Criteria Utilized
Compliance Management Program
Comments
Oversight
Reviewed organizational structure, authority, and personnel
Monitoring
Reviewed monitoring programs for adequacy and frequency
Training
Reviewed training programs
Complaint Management Program
Comments
Written Policies and Procedures
Review of Policy (does one exist and is it complete?)
Public Internet Search
Performed to identify additional areas of concern
CFPB Complaint Database
Debt Buyer

Compliance Certified Vendor Program

VP Compliance Services Vendor Certification program is a review and audit of the Client’s vendors whether they are debt buyers, lead generators, payment processors, call centers, or collection agencies. A VPCS Compliance Certified Vendor is a vendor you can trust when looking to outsource elements of their business:

Debt Buyer

Lead Generation

Call Center (sales and customer service)

Collections

Payment Processors