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Recovery Industry Services Company Acquires Recovery Standard Training
This acquisition brings RISC’s industry leading certification program together with Recovery Standard’s compliance training and learning management system.
Recovery Industry Services Company (RISC), the industry leading compliance education and training company, is today announcing the acquisition of Recovery Standard Training.
The Recovery Standard training curriculum, created and maintained by Hudson Cook, will soon be added to RISC’s CARS certification and continuing education programs. Hudson Cook, the nations leading auto finance law firm, will continue to support and update the Recovery Standard curriculum and provide oversight and updates to the CARS curriculum ensuring third-party vendors and lenders are kept up-to-date with the latest government regulations.
Commenting on the acquisition, Stamatis Ferarolis, founder and chief executive officer of RISC says, “We are excited about this transaction which represents unification of robust education curriculum offered to the collateral recovery industry. The course material and software platform developed by Recovery Standard adds extensive value to RISC’s industry leading CARS certification program. This acquisition helps standardize vendor training and certification allowing repossession companies, national forwarders and lenders access to the most comprehensive option for ongoing compliance training.”
“I am pleased to join forces with RISC to deliver the most up-to-date compliance curriculum for third-party vendors and automotive lenders. RISC’s advocacy for professional repossession demonstrates a commitment to compliance, much like our mission at Recovery Standard Training, making it a clear choice to move forward with this opportunity and bring more unification to the collateral recovery industry,” added Brad Shrader, chief executive officer of Recovery Standard Training.
Auto finance lenders expect third party vendors to meet ongoing compliance standards while ensuring agents are annually trained and comprehensively vetted. The addition of Recovery Standard Training, which comes one year after RISC’s acquisition of Recovery Compliance Solutions’ vendor vetting services, reinforces RISC’s commitment to consistently offer the best-in-class vendor vetting and compliance training.
Recovery Standard Training materials will be added to RISC’s CARS continuing education program over the course of the next three months. In addition, RISC will add a new course for lenders covering skip tracing, cyber security and repossession agent scenarios.
RISC provides services to lenders and recovery agents advocating on behalf of all professional practitioners within the industry. RISC is dedicated to the professional training and certification, vendor vetting services and comprehensive lot inspections for third-party collateral recovery vendors. For more information, visit www.riscus.com.
About Recovery Standard Training
Recovery Standard Training provides curriculum created for lenders and recovery agents using a state of the art learning management system. All course material was created and is maintained by the national law firm Hudson Cook.
About Hudson Cook
Hudson Cook advises clients on banking, consumer financial services and privacy law, with an emphasis on compliance with federal and state laws and government investigations and enforcement. For more than 20 years the firm’s focus has been helping clients mitigate risk and advance their business goals.
Tampa, FL, May 3, 2018
Federal Law Continuing Education Course Launched to Help Repossession Professionals Avoid Wrongful Repossession
RISC’s new CARS Continuing Education Course 12 released at 2018 North American Repossessors Summit
Recovery Industry Services Company, the leading provider of compliance education and training to the collateral recovery industry, releases a new continuing education course for CARS certified recovery professionals. This course was designed to reinforce training on applicable federal law including the Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), Gramm-Leach Bliley Act (GLBA) and the Dodd-Frank Act. The comprehensive Federal Law for Self-Help Repossession course from RISC includes details on creditor’s oversight of service provider compliance as issued in the 2016 Consumer Finance Protection Bureau (CFPB) Compliance Bulletin and Policy Guidance; Service Providers.
“We received requests from lenders who were looking for reinforcement of the CARS curriculum. The Federal Law for Self-Help Repossession course was designed as comprehensive curriculum covering all applicable federal law related to self-help repossession,” said Stamatis Ferarolis, chief executive officer and founder of RISC. “This course supports the compliance requirements that are driving the auto recovery industry to require training and certification to educate third party vendors in an effort to prevent breach of the peace and wrongful repossession.”
The Certified Asset Recovery Specialist (CARS) program from RISC covers all legal aspects that impact self-help repossession. Certification is accepted in all 50 states and annual continuing education courses are required to maintain certification.
The Federal Law for Self-Help Repossession course can be purchased at www.riscus.com. All orders include course material, open book exams and a printable certificate of completion. Repossession professionals must complete the CARS certification prior to purchasing continuing education from RISC.
RISC is dedicated to providing services specific to the collateral recovery industry and advocate on behalf of all professional practitioners within the industry. RISC is dedicated to the professional training and certification of collateral recovery specialists. For more information, visit www.RISCUS.com.
Tampa, FL, April 19, 2018
Clearplan Integration Fees Waived for One Year for CAN Members
RISC collaborates with MBSi and Clearplan to waive Clearplan integration fees for MBSi’s assignment platforms for one year for one location.
Recovery Industry Services Company, the leading provider of compliance education and training to the collateral recovery industry, announces an exclusive offer for Compliant Agent Network (CAN) members where Clearplan integration fees with MBSi’s assignment platforms will be waived for one year starting on April 19 at the North American Repossessors Summit being held in Irving, TX.
“Both MBSi and Clearplan make compliance a priority and their ongoing support of RISC’s compliance education programs were the perfect ingredients for us to develop this offer which waives MBSi integration fees for new and renewing CAN members,” said Stamatis Ferarolis, founder and chief executive officer of RISC.
In addition to this offer, CAN members receive access to exclusive discounts on all RISC services including one free CARS program, 15% off continuing education and 15% off the Skip Tracing program. Membership affords an agency access to more than 100 standard business and compliance documents including policies and procedures, an employee handbook, IT disaster recovery plan, FDCPA policy, TCPA policy and complaint handling policy.
The MBSi:Clearplan integration allows repossession professionals to manage repossession accounts and link assignment data from MBSi assignment platforms in real-time. “We've seen a large increase in companies taking advantage of the MBSi:Clearplan integration this year,” explained Justin Zane, president and founder at Clearplan. “RISC's participation in this offering will help our agent network reduce integration costs, while decreasing the burden and liability of assignment duplication and wrongful repossession.”
“We are excited to see these industries leaders coming together to address two of the biggest challenges facing our industry - compliance standards and data integration,” said Cort DeHart, president at MBSi. “MBSi has robust integrations with both Clearplan and RISC, and this announcement supports our efforts to ensure that all agents accessing sensitive consumer data maintain the industry standard CARS certifications.”
New and renewing CAN members can take advantage of this offer for a limited time by contacting Terri Cavender, CAN Membership Coordinator at RISC, at [email protected].