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.
- 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
- TAKE-AWAY TOOLKIT
- Examination guidance
- Sample credit reporting policy
- Credit reporting inventory checklist
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND?
This informative session is designed for executives, senior managers, department managers, project managers, and anyone involved in the credit reporting function.
ABOUT THE PRESENTER – David A. Reed, JD, Reed and Jolly, PLLC
Attorney, author, consultant, and nationally-recognized speaker, David Reed is a partner in the law firm of Reed and Jolly, PLLC. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections.
A former trial attorney and vice president and general counsel of a large credit union, David is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy. He also serves as editor of several industry manuals.
|Over $75 million
Regular Fee: $159
Back to School Discount: $79.50*
|$25 - $75 million
Regular Fee: $139
Back to School Discount: $69.50*
|Under $25 million
Regular Fee: $79
Back to School Discount: $39.50*
*Discount will be applied after registration has been received.
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.
Upon registration, you will receive an email confirmation that you can print for your records.