WEBINAR

Providing Accurate and Timely Adverse Action Notices Webinar

CFT Credits: 0.25

Both the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA) contain requirements for providing notice of action taken. This webinar reviews the requirements of both laws and covers common violations and provides solutions.

Webinar Description and Audience

What?
Both the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA) contain requirements for providing notice of action taken. This webinar reviews the requirements of both laws and covers common violations and provides solutions.

Examiners closely scrutinize denial notices for compliance with ECOA and FCRA requirements. Adverse action violations are frequently cited in exam reports. Items as simple as the failure to check a box or checking a box that should remain unchecked are frequent violations.

Corrective action can be painful. Pursuant to a consent order with its regulator, one bank was required to search its records for two previous years to identify loan applicants that never received, or who had received inadequate, adverse action notices. The bank was required to send new notices to affected applicants within seventy-five days from the date of the order. This action was burdensome for the creditor, confusing for the denied applicants, and completely avoidable.

Why?
Failure to comply with adverse action requirements can lead to civil liability and enforcement actions from the regulators. This webinar covers the proper and timely handling of denial notices in accordance with ECOA/Regulation B and FCRA. Participants receive a detailed manual that serves as a handbook long after the program is completed.

Covered Topics:

  • The adverse action notice requirements of both the Equal Credit Opportunity Act (Regulation B) and the Fair Credit Reporting Act;
  • How to complete the model adverse action form;
  • The rules for providing notices to multiple borrowers;
  • The rules for determining who provides the notice in situations with multiple creditors or a broker and an investor;
  • Proper handling of counteroffers, and withdrawn and incomplete applications;
  • Timing rules for adverse action notices;
  • How to select the correct reasons for denial;
  • Rules for commercial loans;
  • The differences between applications, completed applications and inquiries, prequalifications and preapprovals;
  • When an adverse action notice is needed for a deposit account;
  • Listing credit scores for adverse action versus the HMDA LAR;
  • Who is listed as the credit bureau where the credit report is obtained from an aggregator who includes three credit scores from three different companies; and
  • Common errors in completing adverse action notices.

Who Should Attend?

The program is designed for compliance officers, auditors and for those with responsibility for completing adverse action notices.

Webinar Viewing Options

LIVE WEBINAR:                                              

INCLUDES 7 DAYS OF UNLIMITED ONDEMAND PLAYBACK!  With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time.  And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:

With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it a very effective training tool. The OnDemand Video will be available to you (and anyone else in the company) for six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:

If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool.  With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

IN-HOUSE:                                                        

Webinars can be scheduled and offered exclusively for your company.  They can even be customized to best fit your needs.  To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

Register Here!

Choose the viewing option that best suits your needs. Live Webinar times are shown as Eastern Time. You can choose to pay by credit card or invoice when you register. CFT Credit will be awarded to the registrant, unless directed otherwise (additional attendees can also receive credit for an additional fee). CFT Webinars are powered by Total Training Solutions!

Webinar DateStart TimeEnd DateEnd TimeViewing Options - See Descriptions AbovePrice
08/14/19CD-ROM Video Recording$345.00Order
08/14/1911:00 AM08/14/1901:00 PMLive Webinar$265.00Register
08/14/19Six Month On-Demand Recording$295.00Order
08/14/1911:00 AM08/14/1901:00 PMLive and On-Demand$365.00Register
08/14/1911:00 AM08/14/1901:00 PMLive, On-Demand, CD-ROM$395.00Register
AnyIn-HouseRequest