MBSi unveils capability for Illinois agents to track data removal in repossessed vehicles
With an Illinois law related to consumer data protection and repossessed vehicles now in place for several months, MBSi rolled out new capabilities to help repo agents and finance companies.
Last week, MBSi added a new data removal feature that’s available in its RecoveryConnect platform as well as RCM, its mobile application.
To recap, Illinois law now requires licensed repossession agencies to “clear, erase, delete, or otherwise eliminate the personal information collected or stored in or by the vehicle by utilizing a standardized electronic solution.”
MBSi’s new product feature can allow recovery field agents to first identify whether the vehicle has privacy data, and then to verify that privacy data has been removed.
Also, the agent has an option to notate the certificate information and upload the certificate as an attachment on the case to share with their client and/or lienholder.
“At MBSi we constantly monitor for regulatory compliance requirements. As Illinois SB 0800 became law, we immediately met with agencies, forwarders and lenders to incorporate changes needed to support the industry,” MBSi vice president of product Heather Ford said in a news release.
“After meeting with the team at Alliance of Illinois Repossessors (AIR) and defining functionality needed in the field, we set into motion to develop necessary features and incorporate AIR feedback,” Ford continued.
Furthermore, the client, lienholder and recovery agency can review and audit privacy data removal by creating a customized report in RecoveryConnect.
“As industry compliance and legal teams continue to review Illinois SB 0800 and determine requirements for compliance, we will continue to work closely with industry stakeholders to deliver customer-led innovation that supports compliance and efficiency,” MBSi president Ray Peloso said. “Our goal at MBSi is to constantly deliver industry-leading compliant solutions.”