Reporting Your Credit Data – E-Oscar, METRO2, FCRA/FACTA and CFPB Compliance Webinar
Whether you report to one or all four of the National Credit Reporting Agencies (NCRA), you are required to comply with the Fair Credit Reporting Act (FCRA) and the Fair & Accurate Credit Transaction Act (FACTA) amendment as well as the new tougher Consumer Financial Protection Bureau (CFPB) standards (see complete description below).
Click Here for Webinar Description and Audience
Whether you report to one or all four of the National Credit Reporting Agencies (NCRA), you are required to comply with the Fair Credit Reporting Act (FCRA) and the Fair & Accurate Credit Transaction Act (FACTA) amendment as well as the new tougher Consumer Financial Protection Bureau (CFPB) standards. It’s not what you know that will hurt you-it’s re-polluting the consumer’s file along with some key points that can cost your Financial Institution plenty! We will review, E-OSCAR (Electronic-Online Solution for Complete and Accurate Reporting) a CFPB requirement, pros and cons of using METRO or METRO-2 format, and any federal requirements. Also, we will discuss if you should report to more than one NCRA, and why you should run quality checks on any data you report to make sure your trade lines are showing up accurately on consumer reports and that you are in compliance.
•Review of CFPB’s Supervisory Bulletin including Furnishers Duty to Investigate Consumer Credit Report Disputes
◦All agencies will apply CFPB tougher exam standards
◦FACTA Section 312 will play a key part in your agencies expectations
◦Your responsibilities under the FACTA-Red Flag guidelines as a Data Furnisher
◦Reviewing your tradeline information to be in compliance and reduce risk
◦Reporting your information monthly using the METRO or METRO-2 format.
◦Using 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 tradelines
◦NEW Compliance points and running quality control checks
◦Putting this knowledge into action & reducing your Institution’s risk!
Who Should Attend?
The Consumer Financial Protection Bureau will impact everyone in your institution dealing with consumers and consumers’ credit information. This informative session is for Branch Managers, Assistant Branch Managers, Customer Service Reps, Lenders, Compliance Officers, Risk Officers, Collectors, and Trainers.
Click Here for Continuing Education Credits (CEC) Info
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.
Click Here for Viewing Option Descriptions
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. Participants can type and send their questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate in the same room.
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 an effective training tool. The weblink will be available to you (and anyone else in the company) for up to 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.
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.
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.