2.14.9 or Higher - Credit Reporting and Consumer Contact Action Changes

2.14.9 or Higher - Credit Reporting and Consumer Contact Action Changes

Credit Reporting and Consumer Contact Action Changes

Article Published - Nov 12, 2021

Purpose

DAKCS has added new features to help agencies comply with Regulation F going into effect on Nov 30, 2021. We will run through the changes made specifically in Beyond Build 2.14.9 or higher. 

We added new additional checks for credit reporting, made a change to the call attempts/contact UI next to the command box, added additional action codes to the Consumer Contact Action event, and gave the ability for agencies to define what actions are contacts, attempts, or neither.

Credit Reporting Changes for Reg F

Three new points of interest have been added on the Credit Reporting system definitions. 


1. Check Validation End Date

This check allows you to see if the Validation End Date has expired prior to first reporting the account.

2. Validation Cut off Date

This date needs to be set if you are checking the above check for Validation End Date. If so, the system will compare to see if the DOR is before or after this date to determine whether or not you need to check for the Validation Date. Some accounts will not have a cut off date due to not being used before November 30, 2021.

3. Returned Validation Notice Deletes CB Report

This flag will allow you to determine whether or not to Delete (DA) accounts that have been reported prior to getting a Validation Notice Mail Return.
Other “Behind the Scenes” checks have been implemented in addition to the credit reporting checks that are already in place. Aside from the credit reporting checks, the following checks have been added.

Contact Check

DAKCS will look at consumers who have had contacts made on them. We will do this by looking at the Communication Tracking to see if a contact was logged using the new Consumer Contact Action Event. We will look to make sure that the contact is after the DOR so that we can credit report the account. Otherwise if no contact has been made we will continue with the additional checks.

Validation Check

The validation check only occurs when the account qualifies from the Contact Check above. If the Check End of Validation flag is set to ‘Y’ then we will do the following checks:
  1. Date of Referral is ON or AFTER the Reg F Cut Off Date and the Validation End Date is ON or AFTER the current date, the account is skipped and will not credit report until after the Validation End Date, basically when the validation period has expired.

  2. We continue with the existing credit reporting checks if the account does not qualify with the previous checks. 

Mail Return Check

The system will check if the account has a Validation Notice Mail Return. There are a few scenarios that an account could fall under.

Accounts Previously Reported

1. An account will be added to the exception report with the following: 
  1. If the mail return flag is set to a “Y”. 
  2. The account is still within the validation period.
  3. Has been reported in the past.  
  4. If something did not do its job correctly in the previous credit reporting checks.
2. The account will be reported:
  1. If there has NOT been a contact.
  2. Validation Notice Mail Return is “N”.
  3. Validation Check has determined that the validation period is expired.
3. The account will be skipped until the next time credit reporting is run again if the following occurs:
  1. If there has NOT been a contact.
  2. Validation Notice Mail Return is “N”.
  3. Validation Check has determined that the validation period has NOT expired.

Accounts Never Reported Before

1. An account will be added to the exception report: 
  1. If Mail Return Flag is set to a “Y”
  2. Account is still within the validation period.
  3. Has been reported in the past,
  4. If something did not do its job correctly in the previous credit reporting checks.
2. The account will be skipped until the next time credit reporting is ran again if the following occurs:
  1. If there has NOT been a contact. 
  2. The Mail Return flag is “Y”.
  3. The Validation check determined that the Validation End date has not expired.
3. We will add this to the exception report with a reason of “Validation Mail Return”.
  1. If there has NOT been a contact. 
  2. The Mail Return flag is “Y”.
  3. The Validation check determined that the Validation End date has expired.
4. An account will be reported will if:
  1. There has NOT been a contact. 
  2. Validation Notice Mail Return is “N”.
  3. The Validation Check has determined that the validation period is expired.
5. We will skip the account until the next time credit reporting is ran again.
  1. If there has NOT been a contact.
  2. Validation Notice Mail Return is “N”.
  3. Validation Check has determined that the validation period has NOT expired. 

Call Attempt/Contact on Account Work Screen

We received a large amount of feedback over the topic of what was considered attempts in the UI for the number of attempts in the past 7 days, so we made a change. 



This change made will only show attempts and contacts that are considered phone calls that have been logged as attempts or contacts in Communication Tracking. We removed the “Show Details” label and made the entire “Attempts in last 7 days” sentence clickable. As you hover over the clickable text, you will see the communication types breakdown of the attempts/contacts in the list.



Consumer Contact Action Event

In Build 2.14.9, we made some changes to the new Consumer Contact Action Event that was introduced in Beyond Build 2.14.5. After getting customer feedback, we added additional actions, ability to capture the dollar amounts on promises and/or payments when hard coding those actions, and added the ability for users to determine if actions are to be tracked as contacts, attempts, or neither.



The new actions that were added were the following:
  1. Payment (A)
  2. Transfer (T)
  3. Other (O)
Previously there was not a way for agents to add the dollar amounts being promised or amount of payment taken when setting up actions that are hard coded to use ORP, ORA, IRP, or IRA. Now, when using the Email Phone Prompt UI to capture phone numbers, agents can enter the amounts. Example shown here.



Defining Attempts and Contacts by Action Code

We added the ability for users to define how they want the action codes that they use and actions that they set up. We added a new tab in Action Maintenance called “Maintain Action Code Contact Types”. Here is an example of the screen. Hear a bit more about this topic and question during our Nov 24 Reg F Focus Group at Minute 25:45. 



In this screen, you can determine what the System Defaults are for different action codes that can be used in the Consumer Contact Action Event.
 
You can now define the Contact Type in the properties of the Consumer Contact Action Event Node that will be able to override the System Default settings listed above.

Specifying the Contact Type only applies if you use the Email/Phone input screen or no input screen. If you use the main Consumer Contact input screen, the contact type property is ignored.

An example of where this would be used:

If your agency has Transfer Agents who may or may not disclose information about the debt prior to transferring the call. In this scenario, you can determine which agent would log the contact. If your Transfer Agent is verifying the address and giving the Mini-Miranda, you may want that agent to log the contact in case the call drops for any reason during the transfer.



Contact Information:

Please take a few minutes to look over the Latest Release Notes. To schedule an update, reach out to Julie Newson by phone at 801.394.5791 x 269 or email julie@dakcs.com. 

For questions about Regulation F or any of the most recent changes, you can reach out to our DAKCS Support team by calling or submitting a ticket today. 

For questions about the REG F: Focus Group, please contact Justin Devine at justin@dakcs.com or call 801.394.5791 x297.