Select Page

The CFPB’s New Rules

The Importance of Consent Management

Under the CFPB’s new debt collection rules the number of times you can call a customer about a particular debt is limited to seven attempts in seven days. There is an exception if the customer has provided specific consent, however this consent has an expiration date!

What’s the Problem?

Complicating the picture further are SMS and email. Contact attempts in these channels don’t count towards the seven-in-seven limit, but, there are strict rules about offering and honoring channel-specific opt-outs. So, consent management is going to be a big deal for anyone looking to remain efficient and compliant once the rules drop. Here are some questions to ask about your operation:

What does your current consent management solution look like?

Do you have the ability to track consent expiry across multiple customers and campaigns?

Are you currently in a position to effectively offer and honor opt-outs across multiple channels?

How Can LiveVox Help?

It starts with the right technology.
The new rules will make managing consent more crucial than ever. It’s not a consideration—it’s a necessity. You need to empower your agents to capture consent  and initiate omnichannel customer engagement. With LiveVox’s embedded Consent Management tool, powered by our Unified CRM solution, you can:

  • Simplify how you track and manage consent and customer preferences across an omnichannel environment
  • Easily capture and track customer opt-ins and opt-outs across channels
  • Make consent revocation easier with unified profiles that automatically update changes as they are made.

You need to have the right technology in place and make sure it’s working well before the new regulations are enforceable. So, be proactive, secure the right product, and start working on your processes now.

The 60-second demo:

How to use LiveVox’s Unified CRM to effectively manage consent

Fill out the form below to request a demo.

What Do I Need to Do About the New CFPB Rules?

Be Proactive

Make sure you have the right technology in place to ensure you follow the rules.

Evaluate Your Operations

Assess whether you are breaching the rules now and whether you’ll be able to make sure you don’t in the future.

Create a Strategy

Understand what processes and products you will need to have in place to comply with the new rules. Determine when you should start testing them.

Use Digital Channels

SMS and emails will not count towards the 7-in-7. Supplementing your calls with digital channels will be key to reaching customers.

Monitor, Monitor, Monitor

Run exception reporting and see how many attempts you’re making to customers in a seven-day period.

Capture Consent

It will be more critical than ever to capture channel-specific consent from your customers. This will require robust consent management.

Resources

LiveVox Success Story_Eastern Improves CX with Digital Channels

CFPB Guide

A concise, clear and straightforward guide to the new CFPB rules

LiveVox Sucess Story_New Credit America Brings Back the Human Touch to CX

CFPB Webinar Replay

Listen to our experts take you through the ins and outs of the new CFPB rules

The information on this page does not constitute legal advice and you should seek guidance from your own independent counsel when making operational decisions in relation to CFPB.

Why LiveVox?

Learn why leading contact centers chose LiveVox as their call center  for Omnichannel, CRM, AI, and Workforce Optimization solutions.

Frictionless Agent & Customer Experiences

Easily improve customer service and shift customer engagement between voice and digital channels while unifying all interaction history, customer profile information, and controls into a tailored agent desktop that improves effectiveness and speed.

Learn More

One Unified Platform

All LiveVox contact center operations are accessed via a single, secure cloud-based platform, allowing for a seamless experience for agents, supervisors, and decision-makers.

Learn More

Comprehensive Risk Mitigation

LiveVox simplifies risk management with embedded compliance controls spanning CTIA, CAN-SPAM, CFPB, PCI, and other compliance-related considerations.

Learn More

Easy Integration

Supplement rather than replace your existing systems of record and CRMs using our simplified API approach, so agents get up and running quickly.

Learn More

Reduced Total Cost of Ownership

Drive performance and stay on top of security requirements with a TCO model that also avoids unnecessary technology, minimizes the need for costly professional services, and offloads security costs.

Learn More

A Partnership You Can Trust

LiveVox contact center solutions will support your unique business goals with a continuously evolving platform, in-depth training, dedicated account managers, our Customer Care Team, and Business Consulting sessions.

Learn More

Certifications

LiveVox is proud to be both PCI and SOC 2 Compliant.