Show:
TCPA
UDAAP
LOA
TPPA
Random
100
TCPA stands for _____
What is Telephone Consumer Protection Act?
100

UDAAP stands for ______

What is Unfair, Deceptive, or Abusive Acts and Practices?

100

LOA stands for _____

What is Letter of Authorization?

100

TPPA stands for _____

What is Third Party Payment Authorization?

100

Compliance training is done on a _____ basis

What is quarterly?

200

TCPA was created to stop calls from this group, which Lift Credit does not fall under

What is telemarketers?

200

UDAPP is created to establish protection for this group of people

Who are consumers?

200

LOA alone does not allow to save this to the account

What is a 3rd Party payment method (DC/ACH)? Need LOA & TPPA.

200

These parties need to physically sign the TPPA document

What is the customer and 3rd party payment account holder?

200

Score that you must get on the Comprehensive Compliance Training to pass

What is 70%+?

300

TCPA was designed to do this

What is safeguard consumer privacy and regulate solicitation calls, autodialers, and pre-recorded calls?
300

UDAAP is closely linked to these 2 other regulations, related to when a customer obtains a loan

What is ECOA and TILA?

TILA requires creditors to “clearly and conspicuously” disclose the costs and terms of credit.

A discriminatory act that is unfair, deceptive, or abusive may also violate ECOA.

300

We add LOA information to a customers account by saving name, phone, and email in this section in PLM

What is Spouse Information section?

300

TPPA allows these 2 actions on an account

What are

  1. The 3rd Party can add and save their own specific payment method to the account for future use.

  2. The 3rd Party can turn their own specific payment method on auto-pay.

300

Name 2 regulations we train on that are not mentioned today

What are:

SCRA, MLA, FCRA, FDCPA, GLBA, EFTA, NACHA (TILA/ECOA)

400

Lift Credit stays in compliance for TCPA with these 6 rules

What is

  1. Calling at correct times. We still follow the 8a-9pm in their timezone.

  2. Honoring cease and desist requests

  3. Identifying ourselves: company name and phone number. 

  4. Providing options to opt out of texts and emails. 

  5. Receiving prior express consent in our loan agreements to call and text. 

  6. We don’t use robo-calls or auto dialers for soliciting. 

400

4 examples of UDAAP that apply to Lift Credit

What are

1. Revealing the consumers debt to employer without the consent of consumer. 

2. Misrepresenting that a debt collection communication is from an attorney. 

3. Misrepresenting that a debt will be waived if they accept a settlement offer which the company does not in fact, waive the debt. 

4. False threats of lawsuits, arrest for non-payment of a debt. 

400

Check this dropdown in PLM to see if we have LOA on an account

What is Additional Agreements?

400

 These are 3 general rules for accepting TPPA

What are

  1. The LOA process has to be completed prior to starting TPPA steps. 

  2. The TPPA document will not be accepted unless it’s handwritten.

  3. If you see a 3rd party card on file, with no TPPA, delete the card until we get a signed TPPA.

400

Lift Credit does regular compliance/security training and audits for these 4 reasons

What are

  1. Could lead to identity theft for our customers 

  2. Could cost the company millions of dollars

  3. Could cost you your job

  4. To ensure we build trust with our customers! They are trusting us with their personal information.

500

Lift Credit does not have to honor the National Registry due to this

What is an Established Business Relationship?

Because we have a relationship with the customer we can keep our own DNC list and put the customer on it if requested.

500
UDAAP advises companies to avoid these 6 things

What is anything that 

  1. Is likely to cause substantially injury to consumers 

  2. Is not reasonably avoidable by consumers

  3. Entices the consumer to choose something harmful because of a different benefit they might gain. 

  4. Likely to mislead consumers

  5. Is too confusing and makes the consumer's decision making process difficult. 

  6. Is missing important information that is considered material to making a decision. 

500

LOA allows Lift Credit to do these 5 actions

What are

  1. Lift Credit can speak to the 3rd party about ALL loan details including past history/loans. 

  2. We can discuss future qualified amounts if they qualify/we know this information.

  3. 3rd Party can make payments on Customer’s account using either their ACH/DC payment method as a one time use or the current saved payment methods on the Customer’s account under the Customer’s name.

  4. 3rd Party can add/delete payment methods in the Customer’s name

  5. 3rd Party can ask us to turn Customers’ auto payments on or off. 

500

This location houses the TPPA document that must be sent to the customer via ____ email in a ___ format

What is Google Drive? What is PLM template? What is PDF?

500

Name 2 things that Lift Credit includes in the Compliance Program

  1. Written standards, policies, procedures in internal manuals

  2. Monitoring and scoring QA system 

  3. Regular, effective training and education for employees

  4. Periodic audits or other methods to monitor compliance

  5. A process to receive complaints concerning possible violations

  6. A process to respond to allegations and enforcement of disciplinary action