Both the Equal Credit Opportunity Act (ECOA) and the Fair Credit Reporting Act (FCRA) require your credit union to notify applicants when adverse action is taken. Notices have to be provided in a timely manner and must contain specific pieces of information. This session will address the adverse action notice requirements under ECOA and FCRA.
Covered Topics
- Explanation of what is and is not adverse action
- Adverse Action Notice timing and information requirements
- Guidelines for providing notices to multiple parties
- Common errors in completing adverse action notices
Who Should Attend?
Compliance officers and lending staff will benefit from attending this webinar.