New Accuracy and Integrity Regulations Enacted Under FCRA Will Impact Virtually Every Bank -- Are You Ready?

Pursuant to the 2003 Amendments to the FCRA, a host of federal agencies have enacted sweeping new regulations that will affect virtually every bank, credit union and other entity that provide information to consumer reporting agencies (“furnishers”). The Accuracy and Integrity Regulations, which were promulgated by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, the National Credit Union Administration and the Federal Trade Commission prescribe the following:

•     Guidelines for use by furnishers regarding the accuracy and integrity of the information furnished to consumer reporting agencies;

•     Regulations requiring furnishers to establish reasonable policies and procedures for implementing the guidelines described above; and

•     Regulations identifying the circumstances under which a furnisher must investigate disputes based on a direct request from a consumer.

The Accuracy and Integrity Regulations take effect on July 1, 2010.  Our presentation will focus on the various requirements of the regulations and how to ensure that your institution is in compliance.

Pre-registration is required to attend, and the cost to participate is only $50 per person. 

GBA is pleased to have a number of Associate Members who specialize in Compliance Consulting. To see a list of these firms along with links to email addresses and websites, please click here and choose Compliance Consultant from the drop down list.

Questions? Please contact GBA's Marybeth Jones.