Across the consumer financial services industry, credit reporting risk and compliance remain a top concern as seen in a recent consent order issued by the CFPB against a federal savings association for failing to comply with the Fair Credit Reporting Act (FCRA) and the Consumer Financial Protection Act (CFPA). Litigation and regulatory enforcement under the FCRA continues to increase and most industry watchers expect that trend to continue. FCRA violations alleged by regulators or asserted in private litigation can prove costly to furnishers and credit reporting agencies alike and require advance planning and investment in effective compliance controls to reduce potential risk.
Discussion Topics Include:
• Tips for effectively managing and responding to identity theft claims, including opportunities to use automation to more efficiently identify and respond to consumer disputes
• Current approaches and recommended best practices recommendations for reporting debt sales and consumer bankruptcies
• A review of recent CDIA guidance on how to report bankruptcies and extinguished debts
• Adapting to potential impacts of the collection NPRM on furnishing activities within your organization
• The opportunities (and risks) posed by sharing credit-related information with others
• The potential for big data and artificial intelligence to impact and enhance adverse action notice compliance
Tuesday Apr 21, 2020
9:00 AM - 11:00 AM PDT