BVL Vol. 29: FACTA: Complying with the Medical Information Rule

Uses and Misuses of Medical Information

Script/Presenter: Lucy Griffin, Esq., Editor, Compliance Action

Whether it has to do with privacy or discrimination, the way your institution - and everyone in it - handles medical information matters a lot!

The FACT Act's Medical Information Rule is now a reality. There are special rules for financial institutions on how to treat and handle medical information. The Medical Information Rule presents serious challenges to financial institutions. In fact, the problems that you face from the Medical Rule are much like the challenges of Regulation B. While it presents as a privacy-protection rule, this is really an anti-discrimination law. Medical information and medical income have become protected.

This program covers:

• How medical information comes into the bank
• When you may ask and when you must not ask about medical information
• How you may consider medical information in credit decisions
• When you must not consider medical information in credit decisions
• What to do about medical information if you know anyway

Training is essential for everyone involved with credit applications, decisions, and administration. It is a good idea to also train the frontline, because the frontline is an information entry point. This program does it all for you.

This program will provide:

• Tips on how to comply with the new Medical Information Rule
• The proper procedures for when and when not to seek medical information
• Ideal training for all levels of employees

"This rule is so confusing, and this program clarified the issue in a way everyone can understand."

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