Reporting Your Credit Data : E-Oscar, METRO2, FCRA/FACTA and CFPB Compliance

OVERVIEW Understand your potential legal risk and compliance obligations with respect to consumer credit reporting. Many financial institutions which furnish consumer credit information on a periodic basis to Credit Reporting Agencies (CRAs) experience challenges in furnishing data in the Metro 2® format. Most credit reporting disputes are handled through the E-OSCAR/ACDV system, which has had recent updates that affect data furnishers' legal obligations in regard to these disputes. This is an active area of litigation and regulatory scrutiny that is consistently being reviewed by examiners and regulators. WHY SHOULD YOU ATTEND This webinar will help attendees better understand their potential legal risk and compliance obligations with respect to consumer credit reporting. Special problems relating to the Metro 2 credit reporting guidelines relating to bankruptcies, disputed accounts and identity theft also will be addressed. AREAS COVERED METRO 2 CREDIT REPORTING GUIDELINE... Read more

OVERVIEW Understand your potential legal risk and compliance obligations with respect to consumer credit reporting. Many financial institutions which furnish consumer credit information on a periodic basis to Credit Reporting Agencies (CRAs) experience challenges in furnishing data in the Metro 2® format. Most credit reporting disputes are handled through the E-OSCAR/ACDV system, which has had recent updates that affect data furnishers' legal obligations in regard to these disputes. This is an active area of litigation and regulatory scrutiny that is consistently being reviewed by examiners and regulators. WHY SHOULD YOU ATTEND This webinar will help attendees better understand their potential legal risk and compliance obligations with respect to consumer credit reporting. Special problems relating to the Metro 2 credit reporting guidelines relating to bankruptcies, disputed accounts and identity theft also will be addressed. AREAS COVERED METRO 2 CREDIT REPORTING GUIDELINES Furnishers' initial reporting obligations under 15 U.S.C. § 1681s-2(a) Recent FCRA and related litigation Reporting of accounts included in bankruptcy Chapter 7 Chapter 13 Reporting of accounts in dispute E-OSCAR AND FCRA LITIGATION RISK AND COMPLIANCE BURDEN Recent developments in FCRA/CFPB compliance requirements Responding to a CRA dispute and the ACDV System (15 U.S.C. § 1681s-2(b)) Scope of review of consumer dispute Deletion of trade lines and related obligations HANDLING CONSUMER CLAIMS OF IDENTITY THEFT Review of CFPB's Supervisory Bulletin including Furnishers 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 your trade line information to be in compliance and reduce risk Reporting Data 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 trade lines NEW Compliance points and running quality control checks Conclusion Putting this knowledge into action & reducing your Institution's risk! ACTION STEPS TO IMPROVE COMPLIANCE Analyze Input Channels Servicing System to Metro 2® File Review to CRA Soft Pull Risk Ranking Remediate Issues Identified Establish Credit Reporting Oversight and Framework for Future State Update P&Ps Establish Ongoing Monitoring LEARNING OBJECTIVES You will be able to discuss penalties for noncompliance You will be able to review the credit reporting lifecycle You will be able to describe an executive reporting dashboard You will be able to describe major credit reporting compliance obligations You will be able to recognize potential areas of litigation risk in connection with investigation in response to a credit reporting dispute You will be able to discuss Metro 2 Credit Reporting Guidelines and related obligations of CRAs and furnishers You will be able to explain CRAs' and furnishers' obligations in response to an ACDV WHO WILL BENEFIT Compliance Officers Lenders Operations Personnel Branch Managers Assistant Branch Managers Customer Service Reps Consumer lenders Risk Officers Collectors Auditors Trainers Everyone in your institution dealing with consumers, credit information and identity theft For more detail please click on this below link: http://bit.ly/2FWYnjQ Email: support@trainingdoyens.com Toll Free: +1-888-300-8494 Tel: +1-720-996-1616 Fax: +1-888-909-1882