Unpacking Adverse Action Requirements
This webinar will navigate through the requirements of Regulation B and FCRA when a loan application is denied, incomplete or withdrawn, or when unfavorable changes to the terms of existing credit arrangements are occurring. Tips and tools will be provided!
After This Webinar You’ll Be Able To:
- Properly notify applicants when denying a loan request
- Identify and document when an inquiry becomes an application
- Explain the requirements for an incomplete or withdrawn application
- Understand the notification options for business credit
- Comply with Reg B’s timing requirements for loan denials
- Effectively use the eight sample notification forms referenced in Regulation B
- Identify when the FACT Act requirements apply to denial notices
- Appropriately fulfill notification requirements when terms change for existing borrowers
- Monitor for frequently identified errors on adverse action notices
- Develop a tracking method for applications not originated
- Recognize potential fair lending discrimination practices
This program will also review the CFPB’s advisory opinion and address the notification requirements when there are unfavorable changes to the terms of existing credit arrangements. You will learn about the notification requirements to both consumer and business applicants. Common regulator-identified errors will be explained and tips on how to avoid them will be provided. To help meet fair lending and Reg B compliance standards, participants will receive a tool designed to document the second review of a denied loan file.
Who Should Attend?
- Application trigger chart, by regulation
- Second review checklist of adverse action/withdrawn files
- Chart explaining each adverse action reason and which to use in different scenarios
- Sample adverse action tracking log
- 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.
- $279 – Live Webinar Access
- $279 – OnDemand Access + Digital Download
- $379 – Both Live & On-Demand Access + Digital Download