Description
Stay compliant with credit reporting regulations and avoid litigation risk.
Debt collectors, mortgage servicers, and finance companies remain at the center of litigation and regulatory scrutiny. Collectors are subject to extensive rules and limitations concerning credit reporting and credit reporting disputes under the Fair Credit Reporting Act (FCRA) and Fair and Accurate Credit Transactions Act of 2003 (FACT Act). Suits under the FCRA are increasing, and adverse verdicts for FCRA violations can be substantial. This topic will discuss the history of the FCRA and the FACT Act, as well as recent developments in credit reporting litigation. The program will provide an overview of regulated conduct, the practical implications on regulated entities, and best practices and procedures to ensure compliance. The program will also highlight litigation risks and potential defenses, as well as interaction with state law. This presentation will provide an overview of the evolving regulatory landscape with regards to credit reporting to assist with compliance obligations and to avoid litigation risk.
Date: 2022-11-17 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to explain the FCRA and FACT Act, who is covered, and what conduct is regulated.
* You will be able to discuss recent developments in credit reporting litigation.
* You will be able to describe litigation risks and potential defenses.
* You will be able to identify best practices and procedures for CRAs and furnishers to ensure compliance.