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New Notice Requirements for Credit Score Users under Dodd-Frank

On July 6th the FRB/FTC issued final rules to implement two new credit score disclosure requirements of the Dodd-Frank Section 1100F for creditors who consider consumer reports in making credit decisions. The new requirements will affect creditors who use a credit score in taking adverse action or in making a risked-based pricing determination based on information in a consumer report. 

Join Ms. Anne P. Fortney, Partner, Hudson Cook and former Associate Director for Credit Practices in the FTC's Bureau of Consumer Protection for a rebroadcast event to learn what you need to know about the requirements for giving adverse action notices and risk based pricing disclosures now, and once the new requirements go into effect. You will be able to benefit from an extensive and informative recorded Q&A session from your industry peers and moderated by CDIA's President and CEO Stuart Pratt.

Discussion Topics:

  • When is an FCRA adverse action notice required in a credit transaction?
  • How do the FCRA notice requirements mesh with the ECOA adverse action notice requirements?
  • What are the rules for notice to joint applicants?
  • What do the new credit score disclosures require?
  • What information must you include when you disclose the credit score?
  • What if you use more than one credit score?
  • What if there is no credit score available for the consumer?
  • How do these requirements compare to the new risk-based pricing requirements?
  • How will the Federal Reserve Board and the Federal Trade Commission’s revised model forms help you comply with the new disclosure requirements?

Speaker: Anne P. Fortney, Partner, Hudson Cook

Moderator: Stuart Pratt, CDIA's President and CEO

Date: August 17, 2011 @ 2:00 pm EDT (1pm CDT; 12pm MDT & 11am PDT)

Duration: 100 min.

Visit CDIA's website to register for this event

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