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Credit Data Reporting Compliance


Event Details*
1.2 AAP CEU Eligible

Event Registration**
Member Price:         $195.00
Non-Member Price:  $295.00

If you report to a national Credit Reporting Agency (CRA), then you've probably encountered an issue with furnishing consumer credit data in the Metro 2® format. When credit-reporting disputes arise, they are usually managed via the e-OSCAR/ACDV system (E-OSCAR); however, recent updates to e-OSCAR have impacted the legal obligations of data furnishers. Because examiners and regulators consistently review and revise data reporting requirements, your financial institution is continually at risk for legal actions and regulatory scrutiny. In this webinar, we will review problematic areas of Metro 2® credit-reporting guidelines, including issues related to the Military Lending Act (MLA), bankruptcies, disputed accounts, & more! By examining recent litigation related to e-OSCAR and the Fair Credit Reporting Act (FCRA), you will better understand your institution's potential legal risk and reporting obligations. We will discuss recent developments in the Bureau of Consumer Financial Protection's (formerly the CFPB) reporting requirements, so you can prepare to meet this compliance burden in the New Year and beyond!  We will also review the CFPB's Supervisory Bulletin (issued in March 2017), which specifically focuses on the Furnishers Duty to Investigate Consumer Credit Report Disputes.  This will enable you to better handle consumer claims of identity theft, as well as your responsibilities under the FACTA-Red Flag guidelines. Guidance will be provided on how to review your trade line information to remain in compliance and mitigate risk.  In addition, this session will suggest action steps your Institution can take to improve compliance. This includes risk ranking, establishing a framework for credit reporting oversight, updating your policies & procedures, and establishing ongoing monitoring.  After you attend this webinar, you will understand how to use the Metro 2® e-learning system to report consumer data to Equifax, Experian, Innovis, and TransUnion, while remaining in compliance with examiner expectations and mitigating legal risks!

*Please note that the access information will be sent to you in a separate email upon receipt of payment.  Access information and support are only provided during normal business hours.
** This event is part of the NEACH Education Club.  Members who join the Club save $65 off the cost of this event.
**Receive 90 day access on this session beginning on requested start date.

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