Webinar: Handling Member Credit Report Disputes

Start: 3:00 pm
End: 4:30 pm
Event Days: 09/12/2013 - 09/12/2013

Gone are the days when we could refer every credit report dispute to the credit reporting agency for resolution. Since federal law now requires credit unions to accept and act on members' direct disputes, the dispute flood gates have opened! So, what if the same member contacts you every month to claim they were never late on their loan and demands that you correct their credit report? This is just one scenario in the increasingly-complex world of credit reporting.

Given that credit scores play such a significant role in a member's financial success, it is clear why there has been so much activity, regulation and litigation in this area. Is your credit union ready for the challenge? This webinar will focus on the practical aspects of creating and maintaining an effective credit-reporting process.

About This Session:     

This webinar will cover the following topics:

  • Your duties under the Fair Credit Reporting Act
  • How much investigation is enough?
  • Creating the perfect paper trail
  • Dealing with repeat disputes
  • Who should be responsible for credit reporting?
  • Recognizing credit-correction scams
  • TAKE-AWAY TOOLKIT with direct dispute best practices, a credit reporting compliance policy, a direct dispute checklist, an employee training log and a staff quiz/answer key

Who Should Participate:

Senior executives, compliance officers, lending staff, collections staff, internal auditors and anyone involved with credit reporting

About the Presenter:

David A. Reed, JD, Reed and Jolly, PLLC

Attorney, author, consultant and nationally recognized speaker David Reed is a partner in the law firm of Reed and Jolly, PLLC. He provides guidance to credit unions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance. A former trial attorney and VP/general counsel of a large credit union, Reed is known for his expertise in the areas of credit union operations, bankruptcy and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management and bankruptcy.