e-OSCAR and Metro 2 Reporting

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. This topic 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.

By understanding the obligations as it pertains to consumer credit reporting, legal risks can be mitigated more effectively and certain associated problems can be addressed and resolved more efficiently and effectively.

After this session, 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.

Covered Topics

  • Metro 2 Credit Reporting Guidelines
  • 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
    • Chapter 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 Tradelines and Related
  • Obligations
  • Handling Consumer Claims of Identity Theft

Who Should Attend?

Compliance Officers, Lenders, Operations Personnel, Branch Managers, Assistant Branch Managers, Customer Service Reps, Risk Officers, Collectors, Trainers.