Credit Reporting Risks in the Banking Environment

FCRA compliance is crucial. Fortunately, the regulations, examination guidance, and hard-earned experience create a detailed model of a fully compliant credit reporting system, if you know where to look. Unfortunately, many institutions fail to follow basic compliance requirements. Join credit reporting veteran David Reed as he cuts through the regulatory web and shares a clean and manageable FCRA process for your institution.

After This Webinar You’ll Be Able To:

• Appreciate the increasing credit reporting compliance risks
• Understand the critical steps in responding to credit report disputes
• Avoid employment screening related FCRA issues
• Identify FCRA risks created by bankruptcy
• Conduct a credit reporting inventory
• Identify and avoid common compliance landmines

Webinar Details
Fair Credit Reporting Act (FCRA) violations continue to be at the top of the CFPB’s complaint list. While credit reports continue to play an essential role in financial institution operations, if you think it all revolves around lending, you’d be wrong! For example, pre-employment screenings often use credit reports as an evaluation tool, and discharge in a consumer bankruptcy requires special attention to report the obligation correctly.

Because credit reporting continues to be one of the most-cited consumer concerns, it receives added attention from the CFPB, examiners, and “consumer protection” and employment attorneys. From policies and procedures to quality assurance and organizational charts, this essential function impacts every financial institution and there are basic steps that will increase efficiency, reduce risks, and calm compliance nerves. This webinar will focus on the unique operational and compliance challenges posed by credit reporting and utilization issues. From consumer disputes to confidentiality and all the gray areas in between, this session will provide a commonsense approach to FCRA compliance and management.

Who Should Attend?
This informative session is designed for senior executives, managers, human resources staff, compliance staff, lending personnel, collections managers, frontline managers, internal auditors, and anyone involved with credit reporting.

Take-Away Toolkit

• Sample FCRA policy
• Sample pre-employment credit report checklist
• Permissible purposes checklist
• FCRA examination guidance
• Employee training log
• Interactive quiz
• PDF of slides and speaker’s contact info for follow-up questions
• Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter
David A. Reed, JD – Reed & Jolly, PLLC
Attorney, author, consultant, and nationally recognized trainer, David Reed is a partner in the law firm of Reed & 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 regional financial institution, Reed is also a Certified Fraud Examiner. He 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.

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