Credit Reporting Risks in the Banking Environment

Fair Credit Reporting Act (FCRA) violations continue to be at the top of the CFPB’s complaint list.  While credit reports continue to play an essential role in financial institution operations, if you think it all revolves around lending, you’d be wrong!  For example, pre-employment screenings often use credit reports as an evaluation tool, and discharge in a consumer bankruptcy requires special attention to report the obligation correctly. 

Because credit reporting continues to be one of the most-cited consumer concerns, it receives added attention from the CFPB, examiners, and “consumer protection” and employment attorneys.  From policies and procedures to quality assurance and organizational charts, this essential function impacts every financial institution and there are basic steps that will increase efficiency, reduce risks, and calm compliance nerves.  This webinar will focus on the unique operational and compliance challenges posed by credit reporting and utilization issues.  From consumer disputes to confidentiality and all the gray areas in between, this session will provide a commonsense approach to FCRA compliance and management.