BAI Featured Innovation
How to reach consumers more efficiently while complying with Regulation F
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Regulation F from the Consumer Financial Protection Bureau (CFPB) gives consumers more control over how debt collectors communicate with them. Collectors may only make seven phone call attempts in a seven-day period—the so-called “seven-in-seven rule.”
Financial services firms can optimize their collections efforts with an intelligent omnichannel contact strategy:
- A phone call aligned with each consumer’s unique phone behavior – certain days may warrant multiple calls, at the right times and on the right days, while other days may only warrant texts or emails.
- Sending an email or text alerting the consumer of an impending call
To thrive in a Regulation F environment, financial services firms must mitigate errant call-blocking and spam-mislabeling, keep consumer intelligence up to date and gain insight into the best time and day to call each consumer.
Download the white paper to learn how to make each call, text, and email count under Regulation F.