Reporting Your Credit Data, METRO2, E-OSCAR, FCRA/FACTA & CFPB Compliance
Re-polluting the consumers’ files under new, tougher CFPB regs that can cost your institution plenty. This program reviews CFPB, FCRA and FACTA requirements for data reporting, essential quality control checks and common reporting errors.
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. It’s not what you know that will hurt you, it’s re-polluting the consumer’s file under new tougher CFPB regs that can cost your institution plenty!
We will review Electronic-Online Solution for Complete and Accurate Reporting (E-OSCAR) (a CFPB requirement) and using METRO2 for your monthly data reporting. We’ll also discuss why you should run quality control checks on any data you report and common errors on consumer files.
This program will be instrumental in establishing proper credit policies and procedures to comply with Federal regulations. The instructor will take time for questions and provide opportunities to work through common problems using “real world” situations. The materials will be a valuable resource after the webinar.
Review of CFPB’s Notice of 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 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 today!
New CFPB standards will impact everyone who deals with consumers’ credit information. This informative session is for lenders, senior management, compliance officers, auditors, trainers, frontline handling reporting and anyone responsible for establishing and maintaining policy and procedures.
Greg Souther, President & CEO, Greg Souther Consulting
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Institute of Certified Bankers: Estimated credits: 2.5 hours CRCM/CLBB (self-reporting).
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)
- Preferred Payment Method: Online
- Please register online or by phone when paying with a credit card
- Payment Must Accompany Registration – Invoices are Not Provided
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.