Banker's Responsbility Under FCRA

Wednesday, August 15, 2018

1:30 pm – 3:30 pm CT

Recommended for 2.5 CE Credits

Program Content:


The Fair Credit Reporting Act (FCRA) has been around since the 1970s. The law was fairly straight forward for many years. Then the Fair and Accurate Credit Transaction Act (FACTA) became law on December 4, 2003. The FACT Act revised the FCRA. The revisions, which unfolded over an eight year period, resulted in substantial changes for all financial institutions.

In order to understand the various provisions of the law today, research must include both the FCRA and FACTA and the Consumer Financial Protection Bureau’ s (CFPB) Regulation V and the Federal Reserve Board’s (FRB) Regulation V. It is all a bit of a jumble.


This program provides a review of the numerous requirements that impact a bankers’ responsibilities under the laws and regulations. Although none of the provisions are new, program participants frequently comment that they never heard of some of the sections discussed. Ignorance of the law is not an acceptable excuse for violations. If any member of your staff is not familiar with the provisions listed below they need this program.

Program participants receive a detailed manual that provides a thorough explanation of all the FCRA requirements.

Covered Topics:

Upon completion of the program participants understand the FCRA requirements for:

  • Affiliate Marketing;
  • Medical Information;
  • Duties of Furnishers of Information;
  • Duties of Users Regarding Obtaining and Using Consumer Reports;
  • Duties of Users Regarding Risk-Based Pricing;
  • Duties of Users of Consumer Reports Regarding Identity Theft;
  • Duties of Users of Consumer Reports Regarding Address Discrepancies and Records Disposal;
  • Identity Theft Red Flags;
  • Duties of Consumer Reporting Agencies Regarding Identity Theft;
  • Duties of Consumer Reporting Agencies Regarding Disclosures to Consumers;
  • Miscellaneous Duties of Consumer Reporting Agencies;
  • Truncation of Numbers;
  • Providing Information to Victims;
  • Blocking Information;
  • Repollution;
  • Investigation Coordination;
  • Debt Collection Communications;
  • Free Credit Reports;
  • Disclosure on Opt-Out of Prescreened Lists;
  • Disclosure of Credit Scores; and
  • Notice of Negative Information.

Who Should Attend:

The program is designed for compliance officers, operations personnel, loan officers, loan originators, auditors and others involved in originating and servicing loans.


Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 42 years. In 37 years as a trainer over 130,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner.  He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.

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Course / Seminar Type: Recorded Webinars
Course / Seminar Category: Compliance and Risk Training
Course / Seminar Code:
Course / Seminar Start Date: 08/15/2018
Course / Seminar Price: $265
Course / Seminar Location: