Release date: February 24, 2016
Duration: 100 Minutes
Access to reasonably priced credit is an essential element in every member’s economic life and no factor is more important than their credit score. But what happens if there is a mistake in the score and it’s your fault? The worst thing you can do is nothing! Is your credit union ready to comply? The Fair Credit Reporting Act and FACT Act apply to every credit union that reports member information to a credit reporting agency, and the fines for improper reporting can be substantial.
The regulations identify the circumstances under which a furnisher must reinvestigate disputes about the accuracy of information contained in a consumer report based on a direct request from a consumer.
In this session, attorney David Reed will discuss:
- Conducting a FCRA inventory
- Data accuracy and integrity issues
- Dealing with direct disputes
- Employment credit reports
- Reporting matters after bankruptcy
MEET THE PRESENTER
Attorney, author, consultant and nationally recognized speaker, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC and founder of CU Doctor, a full service credit union consulting practice. Through Reed and Jolly, Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of credit union policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance. His engaging speaking style has garnered him status as a regular lecturer nationwide on topics such as regulatory compliance, consumer lending, bankruptcy and collections. And, he offers facilitation services and a full range of on-site training programs that can be delivered to the Board, executive team, managers or frontline staff.
A former trial attorney and Vice President and General Counsel of a large credit union, Mr. Reed is particularly noted as an expert in the areas of credit union operations, bankruptcy and collections. He has been selected to train NCUA Field Examination and Audit Staff on numerous issues including ID Theft Red Flags, S.A.F.E Act, Third Party Contract Management and Bankruptcy matters. He also serves as editor of several industry manuals including Collections Manual for Credit Unions and Bankruptcy Guide for Credit Unions.