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Course Level :Basic
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Credits :2
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Instructional Method :Group Internet Based
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Pre-requisites :None
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Advance Preparation :None
The Fair Credit Reporting Act is a federal law
regulating the collection, dissemination, and use of consumer information,
including consumer credit information in the United States.
Why does it matter how information about your
credit is used?
Whenever you
apply for a credit card,
a car loan, a mortgage loan, or any other form of credit, the issuing company
checks your credit history to assess your creditworthiness. The terms you are
offered for credit (such as a loan) may be based in part on your credit score
and information in your credit report.
Your credit
history affects more than just your ability to get loans or the annual
percentage rate (APR) on your credit cards. For instance, prospective landlords
could check your credit report to see how creditworthy you are when deciding
whether they can trust you to pay your rent on time.
In some states,
employers may check your credit report for hiring
purposes. Also, depending on the state, insurance companies may check your
credit to determine whether to offer you coverage.
This CPE webinar
addresses the roles and responsibilities of the FCRA and its impact on the
recording requirements of Consumer Reporting Agencies (CRAs) including retention
of negative information, liabilities for consumer notification, and provision
of consumer credit reports.
In addition to the well-known “big three” of
Experian, Equifax, and Trans Union, other organizations retaining records on
consumers’ medical records and payments, insurance claims, residential and
tenant history, check-writing history, and employment
history may also be classed as a Nationwide Speciality Consumer Reporting
Agency and fall within the remit of the FCRA.
The Consumer Financial Protection Bureau
(CFPB) has undertaken the role of enforcing the FCRA including consumer rights,
responsibilities of furnishers, and responsibilities of users.
Like many consumer protection statutes, the
Fair Credit Reporting Act presents unique compliance challenges for creditors
and other data furnishers of consumer credit information. From responding to
disputes made through the various credit bureaus to direct consumer disputes your
company must have proper policies and procedures in place to comply with the
law and to ensure compliance with recent CFPB mandates.
The CPE webinar on Business Law will address FCRA requirements for information retention and reporting as well as the impact of the CFPB Continuous Supervision program and the Internal Review Process.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Founder, Richard Cascarino & Associates
Richard Cascarino has, for the last thirty-three
years, been providing Internal Audit, Fraud Audit, IS Audit Consultancy, Risk
Management and Corporate Governance consultancy as well as Professional
Development services to clients throughout the United States of America, the
African region, Europe and the Middle East. These include Central Banks
and Financial Institutions, some of the largest corporations, government
departments, auditors general, and professional bodies in their respective
countries.
He is also a visiting Lecturer at the University of the Witwatersrand, lead author of the book Internal Auditing - an Integrated Approach, published by Juta Publishing. In addition, he is the author of the Auditor's Guide to IT Auditing and Corporate Fraud and Internal Control: A Framework for Prevention" published by Wiley
Publishing He is also a contributor to QFINANCE – The Ultimate Resource
published by Bloomsbury.
Richard Cascarino and Associates LLC are providers high quality consulting and training services worldwide. They are associated with some of the most experienced consultants and highest quality professional educators in the fields of Fraud Audit, IS Audit and IS Audit Training, Internal Audit and Internal Audit Training as well as Enterprise Risk Management.
7 Ratings
JH
Dec 30th, 2021
Appeared that presenter was reading sometimes vs talking to audience. Good content!
2 Credits
Subject Area
May 17, 2022 | 09:00 AM EDT
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May 17, 2022 | 10:00 AM EDT
May 17, 2022 | 11:00 AM EDT
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