Improving & Delivering Credit Scores to Your Customers
The CFPB is just getting started ... how will CFPB rulings impact credit scoring? What are your compliance obligations? How can you use credit scores to build a better loan portfolio? Learn the answer to these questions and more.
Session 1 will help you understand the core elements of risk assessments and methods to simplify the process. Session 2 highlights current threats, real procedures you can follow and the importance of forensics when digital robbery occurs.
How will the CFPB’s rulings impact credit scoring? For one thing Fico9 reduces the impact of medical collections on consumer credit files improving the score. The second improvement has to do with releasing credit scores to your customers … all the Big Guys will be doing it before year end! This is just some of the new information we will be discussing.
What are our compliance obligations when using any credit scoring model? What credit factors determine that elusive credit score? How can a consumer or a financial institution legally improve your customer’s credit score? When are you required to give the credit score to your customer? Are there commercial credit scores available? Should we use bankruptcy or fraud scoring models, and if so, what are the compliance obligations? How do we avoid disparate treatment? How can we use credit scores to streamline your DDA, lending and collection process? When are we required to include the credit score(s) on our Adverse Action Notices?
Have Specific Questions?
Send them in advance: firstname.lastname@example.org
(Subject Line: Credit Scoring Question 3.17.15).
- Deposit Accounts – Using models when opening deposit accounts to reduce loss and prevent fraud.
- Credit Scores – Learn what affects your customer’s score in positive and negative ways. All scoring models are not the same — some may surprise you!
- Scoring Systems known as FICO, Emperica and Beacon – Learn their strengths and weaknesses.
- Scoring Products – Which ones are right for different types of lending.
- Risk-Based Pricing Notices – Review of the Regs making sure your bank is in compliance.
- Adverse Action Notices – Modifying current notices to be CFPB compliant.
- Build Your Portfolio Faster – You want the best customers? Get the BEST customers for your bank!
- Bankruptcy – Evaluate the bankruptcy scoring models and determine the right one for your company.
- Accounts Receivable Scoring – Scoring your past dues will help you prioritize efforts and reduce your accounts receivables if handled correctly.
- Promotional Name List – The pros and cons of using purchased name lists & a firm offer of credit!
- Bonus – Tips to improve your customer’s credit score!
Anyone who needs a better understanding of credit scores, including CSRs, managers, credit analysts, lenders, compliance and risk officers, collections staff, HR and senior officers. Frontline staff handling applications and anyone responsible for establishing and maintaining policy, procedures and practices will benefit.
Greg Souther, President & CEO, Greg Souther Consulting, provides training and consulting in customer service and communications; credit, collections and compliance; fraud prevention and information security and marketing and sales. With over 29 years of training and speaking experience, Greg and his associates share practical “how to” advice that everyone can easily understand and use in their daily work.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 CE Credits.
Member price: $265.00 | Non member price $530.00
Member price: $280.00 | Non member price $560.00
Online: Visit the CBA Webinar Catalog
Mail: Click here and mail completed form with check payable to ConferenceEdge to: (Mail at least 10 days prior to event)
1516 Xavier St., Ste 500, Denver, CO 80204
Phone: Call ConferenceEdge at (877) 988-7526 (credit card payments only)
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