Reporting Your Credit Data : E-Oscar, METRO2, FCRA/FACTA and CFPB Compliance
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Website http://bit.ly/2plQc72 |
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Category FCRA Compliance; FCRA background Check
Deadline: April 04, 2018 | Date: April 04, 2018
Venue/Country: Training Doyens 26468 E Walker Dr,Aurora, Colora, U.S.A
Updated: 2018-03-19 13:42:21 (GMT+9)
Call For Papers - CFP
OVERVIEWUnderstand your potential legal risk and compliance obligations with respect to consumer credit reporting. Many financial institutions which furnish consumer credit information on a periodic basis to Credit Reporting Agencies (CRAs) experience challenges in furnishing data in the Metro 2® format. Most credit reporting disputes are handled through the E-OSCAR/ACDV system, which has had recent updates that affect data furnishers' legal obligations in regard to these disputes. This is an active area of litigation and regulatory scrutiny that is consistently being reviewed by examiners and regulators.WHY SHOULD YOU ATTENDThis webinar will help attendees better understand their potential legal risk and compliance obligations with respect to consumer credit reporting. Special problems relating to the Metro 2 credit reporting guidelines relating to bankruptcies, disputed accounts and identity theft also will be addressed.AREAS COVEREDMETRO 2 CREDIT REPORTING GUIDELINESFurnishers' initial reporting obligations under 15 U.S.C. § 1681s-2(a)Recent FCRA and related litigationReporting of accounts included in bankruptcyChapter 7Chapter 13Reporting of accounts in disputeE-OSCAR AND FCRA LITIGATION RISK AND COMPLIANCE BURDEN Recent developments in FCRA/CFPB compliance requirementsResponding to a CRA dispute and the ACDV System (15 U.S.C. § 1681s-2(b))Scope of review of consumer disputeDeletion of trade lines and related obligationsHANDLING CONSUMER CLAIMS OF IDENTITY THEFTReview of CFPB's Supervisory Bulletin including Furnishers Duty to Investigate Consumer Credit Report DisputesAll agencies will apply CFPB tougher exam standardsFACTA Section 312 will play a key part in your agencies expectationsYour responsibilities under the FACTA-Red Flag guidelines as a Data FurnisherReviewing your trade line information to be in compliance and reduce riskReporting Data Reporting your information monthly using the METRO or METRO-2 formatUsing E-OSCAR to view and respond to consumer disputes- Automated Credit Dispute Verifications (ACDV Responses)Using E-OSCAR to create and submit interim maintenance requests Automated Universal Data forms (AUDs) for previously reported trade linesNEW Compliance points and running quality control checksConclusion Putting this knowledge into action & reducing your Institution's risk!ACTION STEPS TO IMPROVE COMPLIANCEAnalyze Input ChannelsServicing System to Metro 2® File Review to CRA Soft PullRisk RankingRemediate Issues IdentifiedEstablish Credit Reporting Oversight and Framework for Future StateUpdate P&Ps Establish Ongoing MonitoringLEARNING OBJECTIVESYou will be able to discuss penalties for noncomplianceYou will be able to review the credit reporting lifecycleYou will be able to describe an executive reporting dashboardYou will be able to describe major credit reporting compliance obligationsYou will be able to recognize potential areas of litigation risk in connection with investigation in response to a credit reporting disputeYou will be able to discuss Metro 2 Credit Reporting Guidelines and related obligations of CRAs and furnishersYou will be able to explain CRAs' and furnishers' obligations in response to an ACDVWHO WILL BENEFITCompliance OfficersLendersOperations PersonnelBranch ManagersAssistant Branch ManagersCustomer Service RepsConsumer lendersRisk OfficersCollectorsAuditorsTrainersEveryone in your institution dealing with consumers, credit information and identity theftFor more detail please click on this below link:http://bit.ly/2plQc72Email: supporttrainingdoyens.comToll Free: +1-888-300-8494Tel: +1-720-996-1616Fax: +1-888-909-1882
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