New challenges for 2010 - Prepare your credit union!
With consumers scrambling to recover from the economic crisis and rebuild their credit scores, credit bureau reporting is poised to be a hot regulatory topic for 2010 and beyond and one of the biggest operational challenges for financial institutions of all sizes. Along with the new FACTA 312 regulatory mandate, institutions can expect increases in examinations, regulatory fines and litigation, as well as mounting operational costs for managing disputes.

Don't leave your financial institution open to this type of exposure! Join us for this two part webinar series and learn the "why" and the "what" of the new 312 regulation in Part 1 — The Practical Implications of the New FACTA 312 Regulation webinar held on Thursday, March 17.

Part 2 - New FACTA 312 Detailed Data Auditing & Testing Techniques webinar, provides the extremely detailed "how" to build a compliance program. This session is being held Thursday, March 24.

In Part I: The Practical Implications of the new FACTA 312 Regulation on March 17, you will get answers to frequently asked questions, such as:

• What are the requirements of the new FACTA 312 regulation?
• Functionally, what actually constitutes "reasonable procedures?"
• What types of practical analytics do I need to create & how frequently do I need to evaluate?
• What impact does Metro 2 really have on the financial institution & the consumer?
• What can be done to control dispute volumes?
• How do you get the bureaus to do the work for you?

In Part II: New FACTA 312 Detailed Data Auditing & Testing Techniques on March 24, you will learn about:

• Requesting & managing annual data audits from each bureau
• Utilizing bureau reject and error reports as compliance tools
• Developing easy to read "reality check" reports to evaluate the reasonableness of data before bureau files are transmitted
• Creating and conducting detailed quarterly audits
• Quarterly validation of the bureau's interpretation & display of your data
• Developing dispute tracking & resolution policies

Just like in face-to-face classes, CUNA Webinars allow you to see and hear a presentation, ask questions of the instructor, and refer to handouts. You need only a speakerphone and computer with Internet connection. With a computer projection screen, it's easy to provide this training to a whole roomful of staff!

When you register for an event, the connection information will be e-mailed to you 24-48 hours before the event. If you are registering for an event the day it is being held, please call 800-356-9655, ext. 4249 or e-mail training@cuna.coop for assistance.

Did you know...in addition to attending this event live, your tuition includes six months of unlimited access to the archived (recorded) event within 48 hours of the live event for your entire credit union. See the archived events available to you and your credit union.

CUNA Webinars use Adobe Connect to provide an interactive and convenient online learning environment. Whether you are a first time Adobe Connect user, or simply need a refresher, take a short tour. You'll learn how to effectively interact with the presenter and your peers during live webinars.

Attend this webinar live on March 17, 2010

Access this archived webinar

Part 1 will provide the recommended process steps, reports and analytics to help you develop "reasonable procedures" related to your credit union, making it a valuable session for anyone involved in the credit reporting process.

During Part 2 you will obtain invaluable information on setting up a comprehensive audit plan for credit reporting, focusing on how to test data integrity by creating specific compliance testing and tracking tools. This session is very detail oriented and was designed to educate staff that are responsible for data accuracy and compliance at your credit union.

Affiliation with CUNA/League is required for attendance.

Jennifer Maisano

Jennifer is president and CEO of Credit Bureau Strategy Consulting, LLC. She has more than 18 years of experience as an MBA and senior manager, eight years experience as vice president and executive level risk management, including credit bureau management, vendor management, credit policy, pre-screen acquisitions, fraud risk and project management positions in both the financial and consulting industries. She has extensive experience in project research, process reengineering, and strategic planning resulting in $20M+ operational risk savings per year in application fraud and identity theft losses, as well as other credit processing financial savings.

The last day for cancellations was March 23, 2010. Substitutions are accepted anytime prior to March 24, 2010 at no additional cost. Simply fax event and contact information, listing the new participant and who they will be replacing.