ConnectionsThe ConServe Newsletter | September 2013 | Issue 26

Fostering Financial Freedom® | www.conserve-arm.com

MEET OUR COMPLIANCE TEAM

ConServe Web Portal Tips & Tricks When looking for your reports and documents in your web folder, remember to click on your web folder so that it is highlighted in gray and not the Public folder to locate this information.

Pamela Murphy, VP, Privacy and Compliance Officer

ConServe’s Compliance Team ensures compliance with consumer financial laws in connection with debt collection as well as privacy, security, confidentiality, and protection of information resources. Pamela Murphy, our VP, Privacy &

Compliance Officer, has 20 years of collection

industry experience; and oversees the

Compliance Team to ensure the organization’s

compliance with all Regulatory requirements,

Client contractual requirements as well as

ConServe’s own internal policies &

procedures as defined in ConServe’s Professional

Practices Management System (PPMS).

PPMS is a Management System designed by

ACA International specifically for the collection

industry; and the foundation of ConServe’s PPMS

is the process of developing, implementing and

adhering to a set of professional practices

& policies, based on 18 basis elements.

ACA’s PPMS Certification provides a benchmark

for excellence in our industry that demands the

highest measures of quality, consistency,

effectiveness and performance.

Standing from Left to Right: Phillip Kasperowicz, Elizabeth Rabjohns, James Montroy, Brittney Gordon, Pamela Murphy, Julie Wilkin, Gabriel Cook, Jamie Ordway, Stephen Foster Sitting from Left to Right: Wendy Cull, Mary Ann Hockey & Lee Santiago Missing from photo: Robin Goodson

Fostering Financial Freedom® | www.conserve-arm.com

Do you know ConServe’s secret password to our Million Dollar Club? It’s Return on Investment (ROI). We have consistently grown new members to this exclusive club year after year. These club members trust ConServe with their tuition and Perkins portfolios and we have delivered the highest returns in a BIG way.

Our club is always looking for new members and we are proud to report that ConServe has collected in excess of a million dollars for over 100 of our Clients and we just added 16 new members in 2013.

ConServe’s success in recovering on defaulted loans pivots around our philosophy to develop win-win scenarios for both our Clients and their debtors. ConServe recognizes the importance of establishing and maintaining exceptional Client Relationships. We pro-actively monitor our relationship to ensure that we are providing service at every level, from the Client to the Borrower. In these difficult times, it’s great to take the time to celebrate the victories. Listed above is Ed Nolan, ConServe’s Director of Business Development presenting Adrian Aleem of Valencia College with a special recognition plaque for recovering more than one million dollars. This is the fourth time

Valencia has received this recognition.

CFPB UPDATE: CFPB’S UDAAP BULLETIN REACHES CREDITORS

Consumer Financial Protection Bureau has published a UDAAP (“Unfair, Deceptive or Abusive Acts or Practices”) Bulletin that addresses conduct of debt collectors and debt buyers, but also is directed at creditors & servicers. This Bulletin is published on CFPB’s website at http://files.consumerfinance.gov/f/201307_cfpb_bulletin_unfair-deceptive-abusive-practices.pdf

Million Dollar Club!

The Bulletin reminds debt collectors & debt buyers who are subject to the FDCPA (Fair Debt Collection Practices Act); that must refrain from UDAAPs violations. Even though the FDCPA does not generally apply to first party creditors collecting their own debts; the UDAAP Bulletin applies to “all covered persons” even those not subject to the FDCPA.

The Bulletin provides a summary of the standards that the CFPB will use to determine whether conduct constitutes a UDAAP; and the following are examples of what the Bureau will be watching closely:

• Collecting or assessing a debt and/or any additional amounts in connection with a debt (including interest, fees, and charges), not expressly authorized by the agreement creating the debt or permitted by law.

• Failing to post payments timely or properly or to credit a consumer’s account with payments that the consumer submitted on time and then charging late fees to that consumer.

• Falsely representing the character, amount, or legal status of the debt.

• Misrepresenting to a consumer that their debts would be waived or forgiven if they accepted a settlement offer, when the company does not, in fact, forgive or waive the debt.

As a result, both the debt collectors and the creditors conduct related to the collection of consumer debt must be compliant with consumer financial laws to avoid any violation of UDAAP.

JOINING IS EASY AS 1-2-3. 1 Increase your Placements with ConServe

A. Add ConServe to more of your existing tuition and Perkins portfolios

B. Consolidate your current portfolio of collection agencies to your top 2 or 3 performing agencies to maximize your ROI

2 Watch the Money Roll-In A. Review our Recovery Performance

and ROI every month with our Client Performance Dashboard

B. Sit back and relax as we get to work and get you to $1M dollars collected in record time

3 Enjoy the Ride with Peace of Mind A. Benefit from ConServe’s Industry premiere

Client Services Team (4 out of 5 Clients Rank ConServe as their #1 Agency)

B. Sleep well at night knowing ConServe is an ACA Certified Agency and recipient of the Business Ethics Award

DATA SECURITY

•

FISM

A COMPLIANT •

BenefitsSecurity

200 CrossKeys Office Park | Fairport, NY 14450-0007 | (800) 724-7500 | www.conserve-arm.com | follow us at twitter.com/conservearm

3 8

8 5 2 7

5 2 1

3 2 8 5

6 8 2 4

1 7 8 3

9

3 1 5

8

1 2

4

9

2 5 1 6 7 4 9

6 4 3 1 9

9 8 7 4 3 6

4 9 6 1 7

5

2

3 9 7

5 4

1

6 9

7 4

2 6

6

7 8

3 5

8 35

9 6 2

1 7 4

Fill in the blank squares so that each row, each column and each 3-by-3 block contain all of the digits 1-9.

If you use logic you can solve the puzzle without guesswork. Answers are to the far right, cover them up - no cheating!

Keep Them Coming!We are delighted with the outpouring of WOWs that we have received since the commencement of this program in 2012. We will continue to aspire to deliver World Class Customer Service with every interaction with us, and in turn we ask that you share your experience by submitting an electronic WOW.

Submitting your WOW is as easy as 1-2-3:1: Visit www.conserve-arm.com/wow

2: Share your WOW experience

3: We do the rest – we will share your WOW with the individual employee that earned this recognition and print a certificate in their honor

This WOW program is in partnership with ConServe’s Sharing the Vision Program. Our internal program recognizes employees that have made a difference and have stood out in their service and commitment to ConServe’s Mission, Vision and Values.

ConServe Stress RelieverSUDOKU

World Class

WOWs

5 6 7 3

6 4 1 2

9 8 4

4

7 2

6

4

7 8

9

1

6

8

9 53

5

6

7

3

2