Program Description:
Credit reporting is an area that continues to evolve. The FACT Act made many changes to the rules, and the result meant many more responsibilities and duties for financial institutions. Final red flag guidelines and affiliate marketing provisions were made final late last year. Is your Identity Theft Prevention Program in place? Additional provisions of the FACT Act are still in the proposal stage.
Is your credit reporting function up to date? This webinar covers all aspects of the Fair Credit Reporting Act, including FACT Act provisions and Federal Reserve and FTC regulations. We’ll also concentrate on those areas that typically cause trouble.
This 2-Hour Webinar Covers:
- What is a credit report? What is a “consumer reporting agency”?
- ID Theft Prevention measures - Final Red Flag Guidelines
- Fraud Alerts - what to do when you see one
- Making information made available to ID theft victims
- Adverse action and notices
- Blocking of certain information
- Limitations on Medical Information and Regulation FF
- Enhanced Consumer Access to Credit Information
- Credit Score availability and factors affecting the score
- Notification of Reports of Negative Information
- Opt-Out Provisions and Notices – how to sort through the various rules
- Clarified Sharing of Information with Affiliates
- Enhanced Duties of Accuracy of Information you report to the credit bureaus
- Consumer dispute provisions
Plus frequent question and answer sessions throughout this presentation.
Who Should Attend:
These new changes will have a large impact on how your institution deals with credit reports and the information on them. Anyone who deals with this type of information at your institution, and the consumers who are affected, would benefit from attending this session.
Presenter:
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who works in Lending Compliance for a large financial institution in Ohio. Prior to this, Carl was a manager in the Finance & Performance Management service line for Accenture. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
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