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Updated Metro 2, e-OSCAR and the New FCRA/CFPB Compliance Requirements

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Duration :

Course Description:

This 60 minute webinar on "Metro 2, e-OSCAR and the New FCRA/CFPB Compliance Requirements" will be instrumental in establishing proper credit policies and procedures to comply with Federal regulations. The expert will review E-OSCAR (Electronic-Online Solution for Complete and Accurate Reporting) a CFPB requirement, pros and cons of using METRO or METRO-2 format and any federal requirements.

         Understand your potential legal risk and compliance obligations with respect to consumer credit reporting. Many financial institutions which furnish consumer credit information on a periodic basis to Credit Reporting Agencies (CRAs) experience challenges in furnishing data in the Metro 2 format. Most credit reporting disputes are handled through the E-OSCAR/ACDV system, which has had recent updates that affect data furnishers' legal obligations in regard to these disputes. This is an active area of litigation and regulatory scrutiny that is consistently being reviewed by examiners and regulators.

Why should you Attend?

This webinar will help attendees better understand their potential legal risk and compliance obligations with respect to consumer credit reporting. Special problems relating to the Metro 2 credit reporting guidelines relating to bankruptcies, disputed accounts and identity theft also will be addressed.

  • You will be able to discuss penalties for noncompliance
  • You will be able to review the credit reporting lifecycle
  • You will be able to describe an executive reporting dashboard
  • You will be able to describe major credit reporting compliance obligations
  • You will be able to recognize potential areas of litigation risk in connection with investigation in response to a credit reporting dispute
  • You will be able to discuss Metro 2 Credit Reporting Guidelines and related obligations of CRAs and furnishers
  • You will be able to explain CRAs' and furnishers' obligations in response to an ACDV

Areas Covered:

  • Metro 2 credit reporting guidlines
    • Furnishers' initial reporting obligations under 15 U.S.C. & 1681s-2(a)
    • Recent FCRA and related litigation
    • Reporting of accounts included in bankruptcy (Chapter 7 & 13)
    • Reporting of accounts in dispute
  • E-oscar and FCRA litigation risk and compliance burden
    • Recent developments in FCRA/CFPB compliance requirements
    • Responding to a CRA dispute and the ACDV System (15 U.S.C. & 1681s-2(b))
    • Scope of review of consumer dispute
    • Deletion of trade lines and related obligations
  • Handling consumer claims of identity theft
    • Review of CFPB's Supervisory Bulletin including Furnishers Duty to Investigate Consumer Credit Report DisputesReview of CFPB's Supervisory Bulletin including Furnishers Duty to Investigate Consumer Credit Report Disputes
    • All agencies will apply CFPB tougher exam standards
    • FACTA Section 312 will play a key part in your agencies expectations
    • Your responsibilities under the FACTA-Red Flag guidelines as a Data Furnisher
    • Reviewing your trade line information to be in compliance and reduce risk
    • Reporting Data ?Reporting your information monthly using the METRO or METRO-2 format
    • Using E-OSCAR to view and respond to consumer disputes- Automated Credit Dispute Verifications (ACDV Responses)
    • Using E-OSCAR to create and submit interim maintenance requests Automated Universal Data forms (AUDs) for previously reported trade lines
  • Action steps to improve compliance
    • Analyze Input Channels
    • Servicing System to Metro 2 File Review to CRA Soft Pull
    • Risk Ranking
    • Remediate Issues Identified
    • Establish Credit Reporting Oversight and Framework for Future State
    • Update P&Ps
    • Establish Ongoing Monitoring

Who will benefit?

This webcast will be of a valuable assistance to the below audience.

  • Compliance Officers
  • Lenders
  • Operations Personnel
  • Branch Managers
  • Assistant Branch Managers
  • Customer Service Reps
  • Consumer lenders
  • Risk Officers
  • Collectors
  • Auditors
  • Trainers
  • Everyone in your institution dealing with consumers, credit information and identity theft

Registration Options



Max 5 participants from a single location with 1 Dial-in.


Max 10 participants from a single location with 2 Dial-in.


Avail 12 months unlimited access for a single user.


Material shipped within 15 days post webinar completion & get life time access for unlimited participants.



Avail recording + Attend live session for a single participant.


Unlimited participants for max 5 locations.


Tags


Metro 2, e-OSCAR, Construction Industry, FCRA Compliance, CFPB Compliance, AML, Banking Industry,

Speaker Details

Dr. Gina J Lowdermilk

Dr. Gina J Lowdermilk

PhD (ABD), CAMS, CRMS is a qualified BSA/AML and Financial Regulatory Compliance professional

Dr. Gina J. Lowdermilk PhD (ABD), CAMS, CRMS is a qualified BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been on working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has

Refund Policy



Participants/Registrants for our live events, may cancel up to 72 hours prior to the start of the live session and ComplianceTrain will issue a letter of credit to be used towards any of ComplianceTrain's future events. The letter of credit will be valid for 12 months.

ComplianceTrain will process refund in cases where the event has been cancelled and is not rescheduled within 90 days from the original scheduled date of the webinar. In case if a live webinar is cancelled, participants/registrants may choose between recorded version of the course or a refund. Refunds will not be processed to participants who do not show up for the webinar. A webinar may be cancelled due to unavoidable circumstances, participants will be notified 24 hours before the scheduled start of the event. Contact us via email: admin@ComplianceTrain.com