Date: Wednesday, March 20, 2013
Time: 2:00 - 3:30 pm Central
The Fair and Accurate Credit Transactions Act (FACT Act) amended the Fair Credit Reporting Act to mandate the use of risk-based pricing notices for consumers. The Dodd-Frank Act further amended the Fair Credit Reporting Act to require disclosure of consumers’ actual credit scores and related information if a credit score is used when taking adverse action or setting credit terms. As a general rule, a credit union must provide risk-based pricing notices to consumers when the credit union, based on a consumer credit report, either denies credit or extends credit on terms that are materially less favorable than the terms the credit union extends to other consumers.
However, there are important exceptions to this general rule and the notice timing requirements vary depending on the specific type of credit. This webinar will clarify situations where the credit union is required to: 1) provide (and is prohibited from providing) these notices and 2) disclose (and is prohibited from disclosing) the consumer’s credit score. This program will clarify notice timing requirements for specific types of consumer credit and review specific model notices for each. Join us to learn the answers to all of your questions on these reporting requirements.
This informative session will benefit consumer lending staff, including loan officers, loan operations personnel, credit analysts, compliance officers, auditors, attorneys, and managers.
Attendance verification for CE credits provided upon request.
Please note: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.
Elizabeth Fast, Esq. is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
1. LIVE WEBINAR
The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone. Registrants receive a toll-free number and pass code that allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, PIN number, and handouts will be emailed to you prior to the broadcast. You will need the most-current version of Adobe Reader available free at www.adobe.com.
2. ON-DEMAND WEB LINK & FREE CD ROM*
Can’t attend the live webinar? The on-demand web link is a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address so you may ask follow-up questions. Approximately one week prior to the webinar, you will receive an email with the web link. This web link can be viewed anytime 24/7, beginning 6 business days after the webinar and will expire 6 months after the live program date.
As an added bonus, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts. Use the on-demand link or this “off-the-shelf” training program for those that could not attend the live seminar and for future training.
LIMITED AVAILABILITY: The on-demand web link and CD ROM may ONLY be ordered for 6 months following the webinar. Neither the link nor CD will be available after this time.
3. BOTH LIVE WEBINAR & ON-DEMAND WEB LINK (INCLUDES FREE CD ROM*)
Options 1 and 2 described above\
*CD ROM is for Mac and PC use only