Do the employees and officers at your financial institution recognize when Adverse Action is taken on consumer applications for accounts or for consumer credit? Do they understand the circumstances under which the Equal Credit Opportunity Act (ECOA) and Regulation B and/or the Fair Credit Reporting Act (FCRA) require that you provide a notice of Adverse Action, what form the notice must take, and what information it must include? Do they know when the institution must send applicants notices with their credit scores and related information?
It is critical that all your lending staff – consumer and commercial – and new deposit accounts personnel are aware of the applicable ECOA and FCRA requirements for your institution, to avoid potentially costly errors and possible fair lending violations.
Join BOL Guru David Dickinson as he covers the Adverse Action Notice compliance requirements and best practices under the Equal Credit Opportunity Act (ECOA) and Fair Credit Reporting Act (FCRA), including:
- Consumer notifications
- Non-consumer notifications
- Notices of incompleteness
- Counteroffers and counteroffer denials
- Indirect lending requirements
- Credit score notifications
- Multiple applicant requirements
- Timing requirements
- Record retention
- Fair lending hot spots
WHO SHOULD ATTEND:
This webinar is designed for loan officers, loan processors, compliance, audit and other loan operations personnel.
Very knowledgeable presenter. Lots of good information. - CathyD
always good info - aggie