A piece here, a piece there…that’s how FCRA is typically viewed. It covers so much of the consumer lending process, but few are aware of how much it comes into play every day. From addressing fraud alerts, to reporting consumer information and disclosing credit scores, you must know the Act’s requirements to ensure your compliance program is effective. This online bank webinar on the Fair Credit Reporting Act is designed to regulate consumer reporting industry, to place disclosure obligations on users of consumer reports and to ensure fair, timely and accurate reporting of credit information. The Act also restricts the use of reports on consumers and, in specific circumstances, requires the deletion of obsolete information. In essence, it is incorporated into several phases of the consumer lending process. While many banks have procedures in place to comply with aspects of the Act, it is critical that your compliance program addresses each requirement and provides for the effective and compliant administration of its requirements.
Important Takeaways for attendees of this FCRA Webinar:
If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.