Written by JiJi Bahhur, Regulatory Compliance Counsel
CFPB Bulletin 2013-09. Earlier this month, the CFPB released CFPB Bulletin 2013-09 (Bulletin), putting on notice companies that supply information to consumer reporting companies. The Bulletin stresses that compliance with the Fair Credit Reporting Act (FCRA) requires furnishers of such information to investigate consumer disputes forwarded by the consumer reporting companies, and to review all relevant information provided with the disputes, including documents submitted by consumers.
Subject to its supervisory and enforcement authorities, the CFPB intends to evaluate compliance with the requirements set forth within the Bulletin and expects each furnisher, in summary, to comply with the FCRA by receiving information and investigating disputes, providing investigation results, and correcting inaccurate information.
The Bulletin notes that “[a]ny furnisher not currently maintaining a process that meets these requirements should take immediate steps to comply with the requirements of the law.”
NAFCU’s Online Training Updated. Are you looking for essential trainings for your Board and new employees? NAFCU’s recently updated Online Training program covers important education for board members and new staff, without requiring a travel budget. New and updated courses include Bank Secrecy Act, member data security, financial literacy and fiduciary duties, how credit unions are regulated and examined and more! For a full listing of training modules available under NAFCU’s Online Training program, visit here.
And wait! It gets even better! If your credit union is interested in NAFCU’s Unlimited Webcast Subscription and Online Training program, we now offer the Virtual Learning Package, combining both the Webcast Subscription and Online Training at a great savings! Credit unions that buy now will have access through the end of 2014!
Ballapalooza Fun. I was planning on sharing some of the pictures from Kyse and Ava’s first birthday party, but to my dismay, they either came out blurry or they were crying in them (teething)! On a good note, I have some great pictures of them playing with one of their birthday gifts – the Ballapalooza!