A Banker’s Responsibility for FCRA & FACT Act Compliance

January 16, 2024



This 90-minute program provides a review of the numerous subparts and appendices included in both the CFPB’s and FRB’s Regulation V and the FCRA and FACTA. It also includes the EGRRCPA amendments. Although many of the provisions are new, program participants frequently comment that they never heard of some of the sections discussed. Ignorance of the law is not an acceptable excuse for violations. If any member of your staff is not familiar with the provisions listed below, they need this program.

You’ll walk away with a thorough understanding of:

  • Obtaining Credit Reports & Permissible Use
  • FCRA Adverse Action Notice Requirements
  • Identity Theft Prevention Programs & Red Flags
  • Credit Score Disclosures & Risk-Based Pricing Notices
  • Providing Notices of Negative Information
  • Direct Disputes & Investigations
  • Fraud Alert Responsibilities
  • Identifying & Resolving Address Discrepancies
  • Commonly Cited Violations

Program participants will also receive a detailed manual that provides a detailed explanation of all the FCRA requirements that can be used as a handbook long after you’ve completed this session.


The Fair Credit Reporting Act (FCRA) has been around since the 1970s. The law was fairly straight forward for many years. Then the Fair and Accurate Credit Transaction Act (FACTA) became law on December 4, 2003. The FACT Act revised the FCRA. The revisions, which unfolded over an eight-year period, resulted in substantial changes for all financial institutions.

In order to understand the various provisions of the law today, research must include both the FCRA and FACTA and the Consumer Financial Protection Bureau’ s (CFPB) Regulation V and the Federal Reserve Board’s (FRB) Regulation V. It is all a bit of a jumble.

The Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA), which was signed into law on May 24, 2018, further amends a number of sections of the FCRA. Those sections create new security freeze rules, change rules regarding veteran’s medical debt, and allow a rehabilitation program for delinquent student loans.


The program is designed for compliance officers, operations personnel, loan officers, loan originators, auditors and others involved in originating and servicing loans.



Kimberly Boatwright

Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC and has more than a two decades of experience working in the financial services industry. Ms. Boatwright is a well-regarded financial industry risk and compliance professional with a strong background in program development and implementation. She is a thought leader who specializes in Fair Lending, Anti-Money Laundering, OFAC and consumer compliance. During her career she has worked for and consulted with all types of financial institutions helping to establish and evolve compliance and risk programs. She is a frequent public speaker, trainer, and author on compliance and risk management topics. Kimberly is a Certified Regulatory Compliance Manager and a Certified Anti-Money Laundering Specialist.

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Price: $0.00
Start Time: 2:00 pm EST
End Time: 3:30 pm EST

January 16, 2024

Sorry, this event is expired and no longer available.