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Can You Guess the Top FCRA Legal Risks of 2020?

Question: 
What are FCRA-related legal risks does my bank face in 2020?
Answer: 

Because examiners and regulators consistently review and revise data reporting requirements, your financial institution is continually at risk for legal actions and regulatory scrutiny. Trends indicate that you are particularly at risk of being the target of employee and job applicant class action lawsuits. Such cases could allege you violated FCRA requirements, particularly with respect to the "Stand-Alone" disclosure and authorization forms, as well as challenges related to adverse actions and the adequacy of FCRA disclosures. By examining recent litigation related to the FCRA and procedural violations, you will better understand your Institution's potential legal risk and reporting obligations.
Discover how to comply with the FCRA and other credit reporting laws and regulations in this webinar.
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Learn more about Carly Souther’s webinar New FCRA Compliance Requirements

First published on 03/15/2020

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