Shareholder Don Mausar recently spoke at the International Association of Commercial Collectors (IACC) 2024 Annual Convention. During his presentation, Roulette Wheel of Compliance, Don discussed current compliance topics, including potential pitfalls and recommended strategies.
Now, we’re sharing some of the takeaways from this informative presentation!
AI concerns and challenges
This is a hot topic in most industries. Things to watch out for include privacy and data security, ethical use of AI, legal compliance, the court’s affirmative rules against AI use, and the overriding concerns of fairness and accuracy.
Cybersecurity and data exchange
In the computer age your cybersecurity is paramount. You need to protect your computer systems, networks, and data from unauthorized access, attacks, and damage. This process should be bookend to bookend and not to be taken lightly. You should have policies and procedures to address every aspect of cybersecurity and data exchanges.
Junk fees
“Junk fees” as a generic term are under much scrutiny by regulators at the state and federal levels. Watch out for regulation of fees such as bank fees, credit card fees, and mortgage fees which may be possible in the future.
If you have additional questions about this topic, contact Don at any time.
This blog is not a solicitation for business, and it is not intended to constitute legal advice on specific matters, create an attorney-client relationship, or be legally binding in any way.
This is a hot topic in most industries. Things to watch out for include privacy and data security, ethical use of AI, legal compliance, the court’s affirmative rules against AI use, and the overriding concerns of fairness and accuracy.
Cybersecurity and data exchange
In the computer age your cybersecurity is paramount. You need to protect your computer systems, networks, and data from unauthorized access, attacks, and damage. This process should be bookend to bookend and not to be taken lightly. You should have policies and procedures to address every aspect of cybersecurity and data exchanges.
Junk fees
“Junk fees” as a generic term are under much scrutiny by regulators at the state and federal levels. Watch out for regulation of fees such as bank fees, credit card fees, and mortgage fees which may be possible in the future.
If you have additional questions about this topic, contact Don at any time.
This blog is not a solicitation for business, and it is not intended to constitute legal advice on specific matters, create an attorney-client relationship, or be legally binding in any way.
