OCALA, Fla. — In keeping with its goal of providing
professional certification and compliance training documents to the collateral
recovery and lending industries, Recovery Industry Service Co., has been
working with the National Alliance of Buy-Here, Pay-Here Dealers to provide
these services to BHPH dealers.

Company officials intend to offer crucial repossession
training and compliance materials during the NABD's 15th annual National
Conference next month at the Wynn in Las Vegas.

RISC president Stamatis Ferarolis insisted BHPH dealers are
required to meet mandates of the Consumer Financial Protection Bureau just as
lending institutions do. 

"If BHPH dealers also perform their own in-house repossessions
they must face recovery compliance mandates as well," Ferarolis said.

In working with NABD, Ferarolis explained that it's been
RISC's intention to address the CFPB compliance mandates and assist BHPH
dealers in the areas of self-help repossession activity and protecting
Non-Public Personal Information (NPPI).

Ferarolis pointed out this information enables BHPH dealers
to make more informed choices on whether they will handle their own
repossessions in-house or assign those repossessions to certified, insured
independent collateral recovery specialists. 

"Courts across the country are holding creditors liable for
the acts of the collateral recovery specialists they utilize, so the decision
of whether to train and use their in-house employees or independents is very
important," Ferarolis said.

"Further, BHPH operators must train their employees to
protect their consumers' non-public personal information from third-party
disclosure," he continued. "For all these reasons, it is recommended that only
certified, insured, independent collateral recovery specialists be used in
recovery." 

RISC offers two training guides to mitigate risk:

—The BHPH National Certification Program

—The BHPH Compliance and Operations Manual 

Ferarolis indicated these programs are designed to train and
certify BHPH employees who service in-house repossessions of their employer and
assist BHPH operators in compliance.

RISC plans to participate in the NABD National BHPH
Conference in Las Vegas May 21-23.

Operators are encouraged to discuss their particular needs
with RISC during that conference or call us at (866) 996- RISC (7472) for
further information.

And for more information about NABD's National Conference
and preceding Training Academy, visit www.bhphinfo.com.
Early bird discounts end April 28 and rooms at the Wynn for a nightly rate of
$179 are more than 75 percent sold, according to NABD officials.

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