The Cost of Compliance

2015 Survey Report

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Since the day the Consumer Financial Protection Bureau (CFPB) released its definition of Larger Market Participant (LMP) for the collection industry, ARM agencies, debt purchasers and collection law firms having been pouring money into their compliance programs. Yet few have collected data to determine where their dollars actually make a difference.

Ontario Systems, with the technical support of Ball State University’s Center for Business and Economics Research, set out to discover which organizational factors make for more sound compliance programs. This report captures a summary of our findings.