Reading consumer credit reports used to be simple! Today, many credit reports exceed 7 pages in length. It practically takes a forensics degree to decipher the data therein. Fear not, Greg will help you become fluent in the language of credit reports faster than you can say, "Experian, Equifax, and Trans Union" (the BIG 3 National Credit Report Agencies (NCRAs).
In their latest Supervisory Highlight, the CFPB released an update on Credit Reports. During this session we will analyze consumer credit reports from the NCRAs. We will review the different file formats of these reports, as well as the best add-on products available through each NCRA. We will discuss the differences in the credit report and scores that the consumer receives from an NCRA versus- the credit reports and scores that are used by your FI. Further, we will discuss issues related to credit scores and identity theft, as well as discussing red flags that will help you spot and prevent identity fraud.
The number of consumer complaints and litigation against small to mid-sized community banks and credit unions has been growing aggressively: 4,164 consumer lawsuits had been filed under the Telephone Consumer Protection Act (TCPA) by the 31st of October 2016. That number marks a 33.7% increase from the number of TCPA suits (3,115) filed at the same time in 2015.
The TCPA, passed by Congress in 1999, is is a federal statute that prohibits unsolicited advertising by fax machine, automated recorded voicemails, advertising calls to mobile telephones or other devices where the customer must pay to receive the call, and solicitation after a customer has added his or her name to a "Do Not Call" list. Likewise, recent court decisions have also held that unsolicited text messages are also covered by the list of prohibited communications under the TCPA.
In this informative 60-minute session, you'll learn about the TCPA, recent FCC interpretations, and practical tips for avoiding TCPA claims. During this webinar, Michelle Cohen, a TCPA-defense attorney for nearly 25 years, will guide participants through the law's coverage and share practical points to enable banks and credit unions to reach customers and prospects while avoiding litigation.
This webinar will provide an overview of cybersecurity insurance options. We will analyze cybersecurity risks, including the risks of data breach, cyber-attacks, and the mishandling of programs that manage that data. We will then discuss the many cyber-related responsibilities imposed on financial institutions. Finally, we will consider best practices for managing risks that attach to handling consumer and customer data.
The U.S. Business-to-Business (B2B) payments industry is currently facing* an identity crisis. The antiquated infrastructures of Banking Past are becoming increasingly unreliable. For the old systems to continue functioning, they usually require repairments or replacements. Performing these facelifts and/or substitutions is a task that is as daunting as it is expensive-- it is unsurprising that institutions are reluctant to launch a project to completely overhaul its current enterprise payments network.
Passing on interchange fees has always been against card network regulations and companies have found unique ways to get around the regulations or simply did not comply. An anti-trust lawsuit was filed in 2005 and in July 13, 2012 the suit was finally settled.
Credit card surcharging is prohibited in ten (10) states while other states are considering legislation. The regulations are daunting for charging a surcharge; should you consider it to recoup transaction fees?
This training on credit card interchange fees rules will clearly explain the changes in the rules, which group will benefit from the changes and how it will affect the retailers and customers.
Is your financial institution or corporation ready for the future? The payments landscape and regulatory climate continues to undergo dramatic change and now is the time to plan for what’s coming. This webinar is tailored to help you understand how strategic planning and risk management impact driving growth, managing regulatory uncertainty, and moving into the future while protecting your business.
This session allows for a dynamic exchange of ideas related to payments strategies and risk management programs and serves as a unique opportunity for financial institutions and corporations to gain insight and prepare for the future.