John Redding Quoted in Auto Finance News Article, Collection Vendors Pose a High Risk for Compliance, Expert SaysJohn C. Redding
John Redding was quoted in Larissa Padden's Auto Finance News article, "Collection Vendors Pose a High Risk for Companies, Expert Says," on Monday, May 25, 2015.
A company’s collection vendor can be one of the highest risks a vendor has — maybe the highest — said attorney John Redding, a partner at Buckley Sandler LLP, during a presentation at last week’s Auto Finance Risk and Compliance Summit in San Diego.
Redding warned attendees to be careful when outsourcing servicing. He called collections, in particular, “a high risk area — but also high value.”
Redding said companies using third-party servicing vendors such as collection agencies should take a sampling of recorded calls on a regular basis; make sure any issues are addressed across the board; share and “socialize” issues across the entire collections group.