EVENT TYPE / COST: CUWT Webcast, $175 per Internet connection or CD-ROM ... $215 for both

The agencies (OCC, FRB, FDIC, OTS, NCUA, and FTC) have released final rules for FACTA Section 312.  This section requires strict compliance for furnishers of consumer-credit information to National Credit Reporting Agencies.  The new rules are designed to improve the accuracy and integrity of information, as well as provide consumers with the right to dispute credit information with the entity that furnished it (i.e., your credit union). 

Will you be ready?  The new rules are effective on July 1, 2010.

HIGHLIGHTS

• Why you are required to review your current policy and procedures for weaknesses
• Establishing and implementing NEW policies and procedures consistent with the final rules
• Why you must demonstrate periodic reviews of policies/procedures regarding changes to furnishing activities, or if deficiencies in data accuracy are discovered
• Technology’s role when your credit union furnishes and responds to disputes, and procedures that demonstrate effectiveness
• Appropriate internal controls regarding the “accuracy and integrity” of consumer information
• Consumer requirements for direct disputes
• Credit union requirements for direct disputes:  conducting a reasonable investigation
• Frivolous disputes – when it’s OK not to respond to a direct dispute and the steps to take
• Providing proper training to your staff
• Appropriate and effective oversight of service providers
  

WHO SHOULD ATTEND: This informative training will be beneficial for staff members who deal with policy and procedures, credit reports, reporting to credit agencies, as well as, management, lenders, credit analysts, compliance officers, security officers, operations officers, and collectors.

Speaker: Greg Souther's consulting firm provides training and consulting to businesses in the areas of Service & Communication; Credit & Collections; Fraud & Security; and Marketing & Sales.  Previously, Greg was co–owner and President of The Credit Bureaus of Southeast Georgia, the parent company for six credit reporting and collection agencies based in Brunswick, Georgia.