FCRA Tough Stuff

Presented by: Mary Beth, John Burnett and Andy Zavoina
                     

The Fair Credit Reporting Act has been in effect since 1971, but has been amended substantially over the years, most notably via the FACT Act. Despite its longevity, questions and violations persist, particularly in tough economic times. When delinquencies became more common, reports to credit bureaus contained more negative information, and compliance errors came into focus. The rise of identify theft, fraud, and cyber crime have contributed to credit report pollution and bankers must tread carefully to avoid causing further harm to victims. Issues abound, ranging from what you can tell one joint applicant about the other applicant's credit, to when you should never use the FCRA adverse action form. This lively two-hour program will focus on common areas of confusion and trouble spots in FCRA compliance.

• What constitutes a consumer report, a report from a nationwide consumer reporting agency, what's the distinguish and why does it matter?
• when is it permissible to obtain a consumer report, and what about obtaining a consumer report on an individual involved in a business transaction?
• What are the parameters for FCRA adverse action notices, and how do they differ from the Reg B adverse action notices?
• What part of FCRA non compliance is costing companies millions of dollars?
• What to do when information is wrong
• and much more

About the Speakers: Mary Beth Guard currently serves as Executive Editor of BankersOnline.com, CEO of Glia Group, Inc. and Executive Editor of BankingQuestions.com. Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.

John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking. He is also a graduate of the BAI's and the Massachusetts Banker Association's Schools of Banking.

He joined Cape Cod Bank and Trust Company in 1971 and assumed his role as Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company. John joined Glia Group, Inc., and became a part of the BOL Team in June, 2004.

Mr. Burnett is a former member chair of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force, and has served on several ABA and Massachusetts Bankers seminar panels.

Andy Zavoina CRCM, is a consultant with the Glia Group, best known for its involvement with BankersOnline.com.

Andy has been in finance and banking for 22 years. Over 20 years were with a holding company with two Central Texas community banks that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. After starting in loan workouts, Mr. Zavoina has been a consumer, commercial and real estate lender and managed those departments as well as being the banks first Webmaster. He was responsible for compliance management, auditing, and training for both banks.

Andy is a past Chairman of the American Bankers Association's Compliance Executive Committee. He was the 2003 recipient of the American Bankers Association's Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He currently serves on the Editorial Advisory Board for the ABA's Compliance Magazine, Compliance Action magazine, is a member of the ABA's Compliance School Board and is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee.

He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written numerous articles and lectured on compliance, the use of the Internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations. Internet policies and other compliance related programs are made available on his personal Web site.

This program was recorded in its entirety in September 2015. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.