Lucy Morris from Hudson Cook stopped by to reflect on Richard Cordray and she thinks might be in the future for the CFPB. Richard Cordray announced this week that he plans to step down as head of the Consumer Financial Protection Bureau. I worked with Rich to stand up the Bureau and as a Deputy […]
On Monday, Dictionary.com named “complicit” its word of the year for 2017. Certainly, most of us have encountered the word more frequently over the past few months: Google Trends shows that search queries related to the term spiked around March and April, and continue to grow. But how many of us know what “complicit” really […]
How do you know what you don’t know? That may sound like a Zen koan, but it’s actually a fundamental measure of your workforce compliance program. Compliance generates a lot of data—HR forms, policy sign-offs, training program outcomes—but it all adds up to nothing if your compliance management system lacks sufficient reporting capabilities. Most organizations understand […]
Remember the cyber security story we wrote about a couple weeks back? The one about the National Security Administration—the United States’ largest electronic intelligence agency—getting hacked? Well, here’s one part we left out: the data breach wasn’t just a moment of embarrassment for the NSA, but an egregious theft of government secrets. By gaining access […]
In terms of compliance, ignorance is anything but bliss. High turnover, lawsuits, regulatory violations, toxic office cultures, tarnished reputations—all of these problems (and more) typically don’t stem from bad actors, but lackluster workforce training efforts. Training is the first step to any effective compliance program. Employees who aren’t trained make expensive mistakes, not necessarily because […]
“An ounce of prevention is worth a pound of cure.” That’s according to Michael Benoit, an attorney with Hudson Cook, LLP. A leading legal advisor for vehicle dealerships, Michael advises the organizations he serves on a wide range of consumer financial services law topics, and represents clients in investigation and enforcement matters involving the Federal […]
Why should you mind the gaps? Because if you’re not careful, you could fall in. In terms of workforce compliance, a “gap” is any critical but mysteriously absent piece of your compliance management system. It could be a missing policy, an undocumented process, a safety training video that hasn’t been updated in awhile, or any […]
A little over 11 months ago, we wrote: “By this time next year, all commercial trucks in the US will be installed with electronic logging devices.” Now, less than a month before the Federal Motor Carrier Safety Administration’s ELD mandate becomes effective, that prediction appears to be coming true. So what? Why are we drawing […]
Ah, Thanksgiving: a time to reconnect with family and friends, turn on the game, impress your dad with that deep-fried turkey recipe you saw on the Food Network, heat up some boozy apple cider cocktails, kick back, and… …realize you forgot to buy a turkey, rush to the supermarket, nearly get trampled by crowds of […]
Nearly 84% of consumers said they would not buy another car from a dealership after their data had been compromised. Pair that frightening stat with the fact that hackers are getting more sophisticated by the day. And one more for you – dealers are popping up on hackers’ radars as juicy targets. Great, one more […]
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