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Reporting Member Credit & Effectively Managing Credit Disputes

Wednesday, June 14, 2017

9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

SPECIAL NOTICE: New CFPB Credit Reporting Guidance Issued

The CFPB recently issued a Special Edition Supervisory Highlights focusing exclusively on consumer credit reporting. From dispute resolution to furnisher data accuracy, the notice covers a wide range of consumer-protection concerns. Taken from years of examination and complaint experience, the guidance is intended as a warning of increased regulatory scrutiny and rulemaking activity. In this heightened risk area, you can't afford to ignore these critical clues. This webinar will fully incorporate the new CFPB guidance and best practices.

The credit reporting function has taken on added significance in recent years with increased borrower awareness of the power of the credit score, the rise of the CFPB, regulations and complaint tracking, and highly motivated plaintiff attorneys. Credit reporting is one of the most cited consumer concerns and has therefore received extra attention from the CFPB, examiners, and consumer-protection attorneys. From policies and procedures to quality assurance and organizational charts, this essential function impacts every financial institution and there are some basic steps you can take to increase efficiency, reduce risks, and calm your compliance nerves.

Fortunately, the regulations, examination guidance, and hard-earned experience create a detailed model of a fully compliant credit reporting function – if you know where to look. This webinar will focus on the unique operational and compliance challenges posed by credit reporting disputes. From automated disputes, to direct disputes, and the gray areas in between, this session will provide a common-sense approach to FCRA dispute compliance and management. Join us to learn how to develop a clean and manageable credit reporting process.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Updated sample credit reporting policy
  • New CFPB guidance, key observations, and analysis
  • Examples of increasing credit reporting compliance risks
  • Breakdown of the credit reporting process
  • Optimal alignment for the credit reporting task
  • Critical steps to respond to credit report disputes
  • Create a plan for effective dispute management
  • Identify and avoid common compliance landmines

  • TAKE-AWAY TOOLKIT
    • FCRA examination guidance
    • Sample FCRA policy
    • Sample credit report dispute resolution procedures
    • Sample response letters
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

RELATED WEBINAR STILL AVAILABLE!

"Conducting a Collections Risk Assessment"
Tuesday, December 5, 2017

WHO SHOULD ATTEND?

This informative session is designed for senior executives, managers, compliance staff, lending staff, collections managers, frontline managers, internal auditors, and anyone involved with credit reporting.

PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.

MEET THE PRESENTER