Financial Recoveries conducts its business in accordance with the highest ethical standards, in compliance with all Federal, State and local laws governing consumer debt collection activity.
FAIR DEBT COLLECTION PRACTICES ACT (FDCPA)
The Fair Debt Collection Practices Act (FDCPA) was promulgated to govern the activities of third party debt collectors. It legalizes the consumer’s right to restrict the unethical methods used by some debt collectors. The purpose of the Act is to provide guidelines for collection agencies that are seeking to collect legitimate debts, while providing protection for the debtors.
FAIR CREDIT REPORTING ACT (FCRA)
The Fair Credit Reporting Act (FCRA) is an American federal law that regulates the collection, dissemination, and use of consumer credit information. Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States.
Gramm-Leach-Bliley Act (GLBA)
The Gramm-Leach-Bliley Act regulates the sharing of personal information about individuals who obtain financial products or services from financial institutions.
HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT OF 1996 (HIPAA)
The Health Insurance Portability and Accountability Act of 1996 (HIPAA) Privacy Rule created national standards to protect individuals’ medical records and other personal health information and to give patients more control over their information. HIPAA sets limits on the use and release of health records. It establishes safeguards that providers and insurance plans must implement to protect the privacy of health information. The Privacy Rule provides that, in general, a covered entity may not use or disclose an individual’s healthcare information without permission except for treatment, payment, or healthcare operations.
RED FLAGS RULE
The Red Flags Rule requires the implementation of an Identity Theft Prevention Program – a written program to detect, prevent, and mitigate identity theft in connection with the opening of a covered account or any existing covered account.