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FACTA 312 and FCRA update

April 20th, 2010 9:00 AM – 4:00 PM


July 1, 2010 is closer than you think.  Don’t wait to get your FACTA 312 program in place.  

This full-day session will provide an overview of the reasonable procedures examiners should expect to be in place to meet both current FCRA and upcoming FACTA 312 audit requirements. It will explore the reasons for the new FACTA 312 regulation,” examine the events that sparked the new regulation and its requirements, and introduces the types of data audit and testing techniques that are required by both FCRA and FACTA 312 and why.   


Attendees will receive a step-by-step guide for developing your mandatory FCRA and FACTA 312 compliance program. Attendees will obtain detailed strategies for meeting reasonable procedures and examiner expectations for evaluating the accuracy and integrity of the information your credit union places on members’ credit files.


Benefit from the instructor’s hands-on experience managing credit bureau reporting programs at one of the country’s largest financial institutions and walk away with detailed practical strategies for the compliance evaluations required to test and monitor the accuracy of your credit reporting.



Key Topics  

  • Recommended process steps, reports and analytics to help you develop reasonable procedures
  • Requirements of the new FACTA 312 regulation
  • Types of practical analytics to create & evaluate
  • Impact of Metro 2 on the credit union and its members
  • Controlling dispute volumes
  • Getting the bureaus to do some of the work for you
  • Day-to-day practical application
  • Financial and regulatory benefits
  • Risks resulting from credit bureau reporting issues
  • Setting up a comprehensive audit plan for credit reporting, focusing on testing data integrity by developing specific compliance testing and tracking tools
  • Requesting and managing annual data audits from each bureau
  • Utilizing bureau reject and error reports as compliance tools
  • Developing easy-to-read “reality check” reports to evaluate the reasonableness of data before transmitting bureau files
  • Creating and conducting detailed quarterly audits
  • Quarterly validation of the bureau’s interpretation and display of your data
  • Developing dispute tracking and resolution policies


Jennifer Maisano is President and CEO of Credit Bureau Strategy Consulting, LLC.  She has more than 20 years of experience in Credit Risk and Fraud Risk Management, including managing Credit Bureau Strategy and Reporting for Citigroup’s consumer finance division. Her credit reporting risk accomplishments include mitigating over $22 billion in potential FCRA fines for credit reporting violations for one major lender.  

Who should attend?

Credit union professionals and senior management with responsibility for compliance or audit programs, credit bureau reporting, member data management, disputes or systems implementation of compliance programs/compliance analytics.  



Andrews FCU
5711 Allentown Road
MS 900
Suitland, MD 20746

Event Info


April 20th, 2010 9:00 AM – 4:00 PM


Andrews FCU
5711 Allentown Road
MS 900
Suitland, MD 20746


Phone: 443-325-0772

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