There are new notices that creditors must give to consumers if a credit score is used when taking adverse action against the consumer. This relates to both the risk-based pricing notice under the Fair Credit Reporting Act (Regulation V) and the adverse action notice under the Equal Credit Opportunity Act (Regulation B). This presentation will explain the requirements and will review the new model notice forms contained in Regulations B and V.
Other topics to be addressed include:
· When is the creditor not required to disclose the credit score?
· What if a creditor uses multiple credit scores?
· What happens when there are multiple debtors?
· What if a creditor uses credit score of guarantor, co-signer, surety, or endorser?
Archive Cost: $200
Registration Deadline: Wednesday, Nov. 30
Coupling telephone conference interaction with web site technology, this session brings informative, interactive training directly to you. During the webinar, you'll view a real time PowerPoint presentation on your computer while listening to the audio connection via telephone.
While credit unions are encouraged to use the webinar to train multiple individuals at once, the credit union will be charged for each computer connection that uses its login code. Participants will receive login instructions and handout materials via e-mail prior to the webinar. In addition after the session, registrants will receive a CD-ROM.