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Webinar: Reporting Your Members Credit: Understanding Increasing Regulatory Requirements

 

 

Wednesday, May 21, 2014

2:00 - 3:30 pm CST

 

Speaker: David Reed, JD, Reed & Jolly, PLLC

 

About the Program

When was the last time you really considered the importance of the creation of a trade line on a member’s credit report? How about the risks? Everyone understands Dodd-Frank created a new world of consumer protection mandates. Now that the rule making authority under the Fair Credit Reporting Act has been transferred to the CFPB, they are monitoring the importance of credit scores in a consumer’s life. Today’s regulatory pressure on a long-forgotten operational area has substantially increased credit unions’ risks. From potential fair lending violations to accusations of incorrectly priced credit and improper reporting, your financial institution needs to ensure you are managing your credit reporting risk.

 

The Fair Credit Reporting Act and FACT Act apply to every financial institution that reports consumer information to a credit reporting agency. The fines for improper reporting can be substantial and litigation risk is rising. Are you fully compliant with the reporting requirements? What about the intricacies of the Metro 2 reporting format? Are you using e-Oscar to its fullest? Join us to learn the important aspects of this operational area.

 

HIGHLIGHTS

  • Decoding the regulatory requirements
  • Conducting a credit reporting risk assessment
  • Understanding the requirements of Metro 2
  • Harnessing the power of your IT function
  • Credit reporting best practices

 



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Printable Brochure (Adobe PDF File)

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