Let's talk regulatory compliance. Governing bodies are cracking down on ancillary product refunds and more. Allied's Peter Krall joins us to dissect the regulations and discuss how financial institutions can keep their borrowers protected.
In this episode...
[:27] Meet Peter Krall
[4:20] What is Product Refund Liability?
[6:51] The state of Product Refund Liability in Q1 2024
[7:51] How do consumers know they could receive a refund?
[9:41] How are current market conditions affecting Product Refund Liability?
[11:53] What should be a top priority when dealing with increasing regulations?
[15:43] The conditions that caused the increased scrutiny from regulators.
[19:03] Allied's role as a leader in this period of increased regulations.
[20:12] Advice for an auto loan servicer navigating through the refund process.
[22:41] What can servicers do to reduce their risk?
[24:19] The role innovation plays in managing product refunds.
[27:50] Who regulates the dealers?
[29:02] The top challenges clients are facing.
[31:09] "Take care of your borrowers, or the regulators will take care of you."
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