Reporting Your Credit Data, METRO2, E-OSCAR & New Tougher FCRA/CFPB Compliance
How to you excel at leading while fulfilling your responsibilities as a branch manager?
It’s a challenge, and this series will help you meet it. Session 1 focuses on roles and responsibilities, and session 2 shows you how to lead through coaching.
It is time to update your consumer credit data policies and procedures again! Whether you report to one or all four of the National Credit Reporting Agencies (NCRAs), you are required to comply with the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transaction Act (FACTA) amendment. It’s not what you know that will hurt you — it’s repolluting the consumer’s file that can cost your bank plenty! We will review new, tougher CFPB requirements, the new E-OSCAR, and using the METRO-2 format. We will also discuss the pros and cons of reporting to more than one NCRA and why you are now required to run data quality control checks on the consumer information you report.
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 data reporting policy and procedures.
- Review of CFPB’s notice of duty to investigate consumer credit reporting disputes.
- Your responsibilities under the FCRA/FACTA including red flag guidelines and Section 312 accuracy.
- Using E-OSCAR to view and respond to consumer disputes (ACDV responses).
- Using E-OSCAR to create and submit update requests (AUDs) for previously reported trade-lines.
- Review the different guidelines for reporting to each of the National Credit Reporting Agencies: Equifax, Experian, Innovis and Trans Union.
- Why you should be reporting your information monthly using the new METRO-2 format.
- Why you are required to check your data to be in compliance and reduce risk.
Changes to FACTA will impact everyone in your institution dealing with consumers, credit information and identity theft. This session is for branch managers, assistant branch managers, CSRs, consumer lenders, compliance officers, risk officers, collectors, auditors and trainers.
Greg Souther, President of Greg Souther Consulting & Seminars is a firm that provides training and consulting in the areas of customer service and communication, credit and collections, fraud and security, HR, marketing and sales. With over 28 years of training and speaking experience, Greg shares practical how to advice that everyone can easily understand and use in their daily work environment. Greg’s unique style of “tell it like it is” and humor make him a popular speaker.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 hours/session
Member price: $275.00 | Non member price $550.00
Member price: $295.00 | 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.