What if there’s a mistake in the score and it’s your fault?

When was the last time you really considered the importance of a credit report?  How about the risks?  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.  The Fair Credit Reporting Act and FACT Act apply to every credit union that reports member information to a credit reporting agency.

But what if there’s a mistake in the score and it’s your fault?  There has been an alarming increase in consumer-related litigation which involves credit reporting.  The damages for improper reporting can be substantial.  Throw privacy and bankruptcy into the mix, and there can be considerable liabilities to address.  To complicate matters, when a consumer makes a direct request, the new regulations impose a duty on the credit union to reinvestigate disputes regarding the accuracy of the consumer’s information.  The worst thing you can do is nothing!  Is your credit union ready?

HIGHLIGHTS

WHO SHOULD ATTEND?

This informative session is designed for credit union professionals that deal with consumer credit reports, especially chief lending officers, lenders, credit analysts, loan processors, branch managers, collections staff, compliance officers, human resources, and executives.