One recent court case held that disclosures on a website were not conspicuous because it was not set apart from other text sufficiently and other distractions on the page drew away the readers attention.
Paraphrased, here is what one circuit court said, “consumers are protected from a company’s deception, even if they never actually read its disclosures.” The world of compliance is different when you consider UDAAP whether with one or two “A’s”.
You know what makes me mad? It’s when a customer makes a stupid choice to EFT money, then wants to make a claim so they can get that money back from the bank. When the bank has a claim for an unauthorized EFT, it costs the bank real money.
Both the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA) contain requirements for providing notice of action taken. This two-hour webinar reviews the requirements of both laws.