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The Fair Credit Reporting Act (FCRA) and Related Issues

Learn what these tripwires are and prepare your institution for inquiries from the agencies as well as consumers.

OnDemand
Recorded Friday,
February 23rd, 2024
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • CRA Compliance
  • Fraud
  • General Compliance
  • Lending Compliance
  • Reporting
  • Risk Management/Legal
  • Bank Legal Counsel
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Internal Auditor
  • Risk Manager
  • Senior Management
  • Trainer

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The Fair Credit Reporting Act (FCRA) is one of the more complex rules in the banking industry, due partially to the fact that it’s been updated several times over the years. The consumer credit reporting process has been a primary area of focus by the regulators too, especially the CFPB.

There are many concerns and landmines within the credit reporting process. There are also many notices that must be provided under the FCRA, and knowing when to provide what notice can be complicated. The dispute process under the FCRA is also an area of concern. Join us to learn best practices and make sure you’re doing things correctly.

What You'll Learn

  • Basic FCRA definitions and requirements
  • Adverse action and required notices under the FCRA
  • Fraud Alert provisions
  • Limitations on medical information
  • Notification of reports of negative information
  • Risk-Based Pricing Notices
  • Red Flag Guidelines and the Identity Theft Prevention Program
  • Prescreened solicitations – rules and requirements
  • Sharing of information with affiliates
  • Duties of accuracy and integrity of information you report to credit bureaus
  • Consumer dispute provisions

Who Should Attend

Anyone who deals with credit reporting responsibilities and the customers who are affected would benefit from attending this session.


Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Advisor for Treliant LLC in Washington, DC. Through his more than 30-year working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves as the Chair of the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.


Continuing Education Credit Information

The Fair Credit Reporting Act (FCRA) and Related Issues has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.