Collections – Granting Credit: Regulatory Considerations
It is necessary when thinking about credit policy to evaluate whether a company’s credit policies comply with the law. , Federal and state regulations govern the extension and enforcement of credit. , , This learning module will present the topics of Customer and Guarantor Information, Collections, Federal Statutes and Regulations, and State Statutes and Regulations. , After successful completion of this learning module the student should understand the importance of safeguarding customer and guarantor information, what collection strategies are prohibited by the Federal Communications Commission, Federal law, State law, and postal laws, recording-keeping rules for merchants, the major federal statutes and regulations (ECOA, FCRA, Fair Credit Billing Act), and state statutes and regulations.
Robert S. Bernstein is managing partner of Bernstein Law Firm, P.C. , He serves as counsel to commercial landlords, equipment lessors, bankruptcy trustees, creditors' committees, creditors, and reorganizing businesses in proceedings throughout Pennsylvania and the Middle Atlantic States, concentrating in the many facets of bankruptcy and commercial law. , Mr. Bernstein writes and lectures for local and national groups on matters of collection, bankruptcy, business law, and professional ethics and, for more than ten years, has been certified as both a creditors' rights and business bankruptcy specialist by the American Board of Certification. , Mr. Bernstein earned a BA from the University of Pittsburgh in 1976 and a J.D. from Duquesne University in 1981.