Pruvan is in the news!
We are excited to announce our integrated partnership with Aspen Grove and their Aspen iRecord™ solution to streamline compliance with the CFPB’s new vendor oversight regulations. Crews will be able to submit required data through Pruvan Mobile and get back to assigned work orders immediately. Compliance will now be possible without losing valuable time in the field.
Learn more in our support forums by searching for “AGS” or click here.
Editor’s note (6/9/2015): To clarify, the regulation from the CFPB that this press release speaks to requires that supervised banks and non-banks manage their relationships with their third party vendors in a way that complies with Federal consumer finance law which aims to protect the interests of consumers. Several financial institutions have decided that they will ensure compliance with these vendor oversight regulations by requiring back ground checks of all third-party vendors. Pruvan, a third-party mobile solution, is a facilitator for those who may need to submit background check data in order to perform work at a property.
For reference, please read this bulletin from the CFPB on vendor oversight from April 2012: http://files.consumerfinance.gov/f/201204_cfpb_bulletin_service-providers.pdf
For more information, please read this synopsis from the Wall Street Journal: http://deloitte.wsj.com/riskandcompliance/2013/12/02/managing-third-party-vendor-compliance-under-the-cfpb/