Collector - July 2017 - 16

"Establishing policies
and procedures once is
not enough-Regulation
V requires furnishers to
periodically review and
update their policies
and procedures to
ensure their continued
effectiveness."

REGULATION V
Regulation V contains a set of rules created
by regulatory agencies that implement
portions of the FCRA. Furnishers are
required to comply with Regulation
V in the same manner as the FCRA.
And, as already mentioned, regulatory
agencies are actively reviewing furnishers'
compliance with Regulation V. That's why
it's imperative that furnishers understand
and implement its requirements into their
business practices.
Regulation V requires furnishers to
establish reasonable written policies
and procedures regarding the accuracy
and integrity of consumer information
provided to CRAs. The policies and
procedures required by the rule must be
appropriate to the nature, size, complexity
and scope of a furnisher's activities. This

allows furnishers the flexibility to establish
policies and procedures that best fit their
business practices.
In establishing these policies and
procedures, Regulation V requires
that furnishers review and consider
the guidelines found in Appendix E of
the regulation, incorporating them as
appropriate. Establishing policies and
procedures once is not enough-Regulation
V requires furnishers to periodically review
and update their policies and procedures to
ensure their continued effectiveness.
While the requirement to have policies
and procedures related to accuracy and
integrity is abundantly clear, the question
of what to include and how to craft them
remains. Appendix E of Regulation V
provides furnishers with the proper tools
to help answer this question.

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16

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Table of Contents for the Digital Edition of Collector - July 2017

Upfront
Industry News
Best Practices
FYI
Collection Tips
What’s in Your Policy?
State Licensing Laws: What’s New and Trending
The Question of Rule 68
Calendar
Honor Roll
Healthcare Data at Risk
ACA Members Meet in D.C. to Advocate on Behalf of Industry
Fixing What’s Broken
Credit Listening Considerations
U.S. Supreme Court Hands Collection Industry a Win in ACA-Supported Case
Compliance
ACA SearchPoint
Last Word
Collector - July 2017 - Cover1
Collector - July 2017 - Cover2
Collector - July 2017 - 1
Collector - July 2017 - 2
Collector - July 2017 - Upfront
Collector - July 2017 - Industry News
Collector - July 2017 - 5
Collector - July 2017 - 6
Collector - July 2017 - 7
Collector - July 2017 - Best Practices
Collector - July 2017 - 9
Collector - July 2017 - FYI
Collector - July 2017 - 11
Collector - July 2017 - Collection Tips
Collector - July 2017 - 13
Collector - July 2017 - What’s in Your Policy?
Collector - July 2017 - 15
Collector - July 2017 - 16
Collector - July 2017 - 17
Collector - July 2017 - 18
Collector - July 2017 - 19
Collector - July 2017 - State Licensing Laws: What’s New and Trending
Collector - July 2017 - 21
Collector - July 2017 - 22
Collector - July 2017 - 23
Collector - July 2017 - The Question of Rule 68
Collector - July 2017 - 25
Collector - July 2017 - 26
Collector - July 2017 - 27
Collector - July 2017 - Calendar
Collector - July 2017 - Honor Roll
Collector - July 2017 - Healthcare Data at Risk
Collector - July 2017 - 31
Collector - July 2017 - ACA Members Meet in D.C. to Advocate on Behalf of Industry
Collector - July 2017 - 33
Collector - July 2017 - 34
Collector - July 2017 - 35
Collector - July 2017 - Fixing What’s Broken
Collector - July 2017 - 37
Collector - July 2017 - 38
Collector - July 2017 - 39
Collector - July 2017 - Credit Listening Considerations
Collector - July 2017 - 41
Collector - July 2017 - U.S. Supreme Court Hands Collection Industry a Win in ACA-Supported Case
Collector - July 2017 - 43
Collector - July 2017 - Compliance
Collector - July 2017 - 45
Collector - July 2017 - ACA SearchPoint
Collector - July 2017 - 47
Collector - July 2017 - Last Word
Collector - July 2017 - Cover3
Collector - July 2017 - Cover4
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