PerformLine Releases Resources to Help Consumer Finance Companies Navigate Marketing Compliance

Resources offer unparalleled insights into the latest marketing compliance trends, challenges, and solutions

MORRISTOWN, N.J. , March 7, 2024 /PRNewswire-PRWeb/ -- PerformLine, a leading provider of automated marketing compliance solutions, today announced the release of two groundbreaking resources aimed at empowering consumer finance companies to stay ahead in the rapidly evolving regulatory landscape. The Marketing Compliance and Enforcement Actions Quarterly Review and the 2024 State of Marketing Compliance Report provide valuable insights into the latest trends, enforcement actions, and compliance challenges facing the industry.

The Marketing Compliance and Enforcement Actions Quarterly Review offers a detailed analysis of the enforcement actions and compliance trends that have significantly impacted consumer finance companies in the second half of 2023. Some notable insights include:

• 22 finalized public enforcement actions totaling over $230B in fines
• Regulators are focusing their efforts on UDAAP (Unfair, Deceptive, or Abusive Acts or Practices), dark patterns, and third-party risk management
• The most common compliance issues include offer inflation, brand misrepresentation, and misleading language
• 1 in 4 marketing assets monitored by PerformLine were flagged for a potential compliance violation

Complementing the quarterly review, the State of Marketing Compliance Report offers proprietary research on the breadth of marketing compliance programs, concerns, and challenges. Based on a comprehensive survey of compliance and marketing professionals, the report unveils that:

• Compliance teams face significant challenges related to manual processes and resource constraints, impacting their ability to manage compliance tasks efficiently
• There's a correlation between the maturity of compliance programs (automated vs. manual) and the level of confidence in these programs
• Organizations have already or are planning to increase investment in compliance monitoring technology to help solve key challenges

"The marketing landscape for consumer finance brands is more complex than ever, with new channels, technologies and regulations emerging constantly," said Claire Milazzo, VP of Marketing at PerformLine. "Our goal with these resources is to provide organizations with data-driven insights that help them benchmark their programs, anticipate challenges, and implement the right technologies and strategies to enable compliant growth."

These resources are part of PerformLine's commitment to offering comprehensive compliance solutions that assist businesses in navigating the complex regulatory environment effectively. By leveraging PerformLine's in-depth compliance monitoring and industry analysis, consumer finance companies can gain essential insights to maintain compliance and foster growth in a challenging market.

Those looking to read the full Marketing Compliance and Enforcement Actions Quarterly Review can access it here. Those looking to read the full State of Marketing Compliance Report can access it here.

For more information about PerformLine, please visit www.performline.com.

ABOUT PERFORMLINE

PerformLine is the compliance platform for omni-channel oversight. Our SaaS platform is mission-critical for companies to discover, monitor, and act on compliance risk in their marketing, sales, and partner channels. PerformLine delivers a unified solution for end-to-end marketing compliance automation, from the review of material before publication to the discovery and continuous monitoring across consumer-facing channels including the web, social media, emails, calls, and messages. PerformLine is trusted by consumer finance brands and global organizations to make efficient marketing compliance their competitive advantage.

Media Contact

Gianna Kennedy, PerformLine, 1 (973) 590-2305, [email protected], performline.com

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SOURCE PerformLine