BEGIN:VCALENDAR VERSION:2.0 METHOD:PUBLISH PRODID:-//ddaysoftware.com//NONSGML DDay.iCal 1.0//EN BEGIN:VTIMEZONE TZID:Eastern Standard Time BEGIN:STANDARD DTSTART;VALUE=DATE:18000101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=10;BYMONTHDAY=25,26, 27,28,29,30,31 TZOFFSETFROM:-0400 TZOFFSETTO:-0500 END:STANDARD BEGIN:DAYLIGHT DTSTART;VALUE=DATE:18000101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=4;BYMONTHDAY=1,2,3,4 ,5,6,7 TZOFFSETFROM:-0500 TZOFFSETTO:-0400 END:DAYLIGHT BEGIN:STANDARD DTSTART;VALUE=DATE:20070101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=11;BYMONTHDAY=1,2,3, 4,5,6,7 TZOFFSETFROM:-0400 TZOFFSETTO:-0500 END:STANDARD BEGIN:DAYLIGHT DTSTART;VALUE=DATE:20070101 RRULE:FREQ=YEARLY;BYDAY=SU;BYHOUR=2;BYMINUTE=0;BYMONTH=3;BYMONTHDAY=8,9,10, 11,12,13,14 TZOFFSETFROM:-0500 TZOFFSETTO:-0400 END:DAYLIGHT END:VTIMEZONE BEGIN:VEVENT DESCRIPTION:The Fair and Accurate Credit Transactions Act (FACT Act) amende d the Fair Credit Reporting Act to mandate the use of risk-based pricing n otices for consumers. The Dodd-Frank Act further amended the Fair Credit R eporting Act to require disclosure of consumers’ actual credit scores and related information if a credit score is used when taking adverse action o r setting credit terms. As a general rule\, a credit union must provide ri sk-based pricing notices to consumers when the credit union\, based on a c onsumer credit report\, either denies credit or extends credit on terms th at are materially less favorable than the terms the credit union extends t o other consumers. However\, there are important exceptions to this genera l rule and the notice timing requirements vary depending on the specific t ype of credit. This webinar will clarify situations where the credit union is required to: 1) provide (and is prohibited from providing) these notic es and 2) disclose (and is prohibited from disclosing) the consumer’s cred it score. This program will clarify notice timing requirements for specifi c types of consumer credit and review specific model notices for each. Joi n us to learn the answers to all of your questions on these reporting requ irements. HIGHLIGHTS Overview of risk-based pricing requirements\, includi ng a comparison between Reg V and Reg B notices If the credit score isn’t used to make or deny a loan\, should the credit score be included in the a dverse action notice? What if you pull a credit report\, but don’t use the consumer’s credit score in setting credit terms? How can you prove to exa miners that the credit score wasn’t considered in making the credit decisi on? Is a risk-based pricing notice required if all consumers are charged t he same rate for a specific loan type? What if there are multiple debtors or multiple credit scores are used? What if the consumer has no credit sco re? Can you use the credit score of a guarantor or co-signer? How do you d etermine the range of credit scores that must be disclosed in the risk-bas ed pricing notice? TAKE-AWAY TOOLKIT A copy of each model risk-based prici ng notice A guide for when each model notice should be used WHO SHOULD ATT END? This informative session will benefit consumer lending staff\, includ ing loan officers\, loan operations personnel\, credit analysts\, complian ce officers\, auditors\, attorneys\, and managers. ABOUT THE PRESENTER – E lizabeth Fast\, JD &\; CPA\, Spencer Fane Britt &\; Browne LLP Eliza beth Fast\, Esq. is a partner with Spencer Fane Britt &\; Browne LLP wh ere she specializes in the representation of financial institutions. Eliza beth is the head of the firm’s training division. She received her law deg ree from the University of Kansas and her undergraduate degree from Pittsb urg State University. In addition\, she has a Master of Business Administr ation degree and she is a Certified Public Accountant. Before joining Spen cer Fane\, she was General Counsel\, Senior Vice President\, and Corporate Secretary of a $9 billion bank with more than 130 branches\, where she ma naged all legal\, regulatory\, and compliance functions. She is a member o f the Missouri State Banking Board by appointment of the Governor. PLEASE NOTE: Your registration fee allows you to have one telephone connection. H owever\, as many people as you like may listen from your office speaker ph one. If you register for the webinar\, your registration fee also includes one internet connection from a single computer terminal. THREE REGISTRATI ON OPTIONS 1. LIVE WEBINAR The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (fr om a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your off ice speaker phone. Registrants receive a toll-free number and pass code th at will allow entrance to the seminar. The session will be approximately 9 0 minutes\, including question and answer sessions. Seminar materials\, in cluding instructions\, pin number\, and handouts will be emailed to you pr ior to the broadcast. You will need the most current version of Adobe Read er available free at www.adobe.com. 2. ON-DEMAND WEB LINK** AND FREE CD RO M* Can't attend the live webinar? The ON-DEMAND WEB LINK** is a recording of the live event including audio\, visuals\, and handouts. We even provid e the presenter's email address so you may ask follow-up questions. Approx imately 1 week prior to the webinar\, you will receive an email with the w eb link. This web link can be viewed anytime 24/7\, beginning 6 business d ays AFTER the webinar and will expire 6 months after the live program date . But there's more . . . AS AN ADDED BONUS\, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presen tation\, the question and answer sessions\, and the handouts. Use the on-d emand link or this "off-the-shelf" training program for those that could n ot attend the live seminar and for future training. 3. BOTH LIVE WEBINAR A ND ON-DEMAND WEB LINK** (INCLUDES FREE CD-ROM*) Includes options 1 and 2 a bove *CD Rom for PC use only **All materials are subject to copyright and intended for your credit union's use only. NEW! Listen on your iPad\, iPho ne\, or Android. Instructions will be emailed to you with the on-demand li nk. INVESTMENT: $199.00 Webinar per connection $199.00 Archived On-Demand Web Link &\; Free CD ROM $249.00 Both Live Webinar &\; Archived On-D emand Web Link &\; Free CD ROM TIME: 3:00 p.m. - 4:30 p.m. To register and pay by check\, email mzelinsky@njcul.org and your credit union will be invoiced. To register and pay online\, click here. DTEND;TZID=Eastern Standard Time:20130320T163000 DTSTAMP:20130523T154730 DTSTART;TZID=Eastern Standard Time:20130320T150000 LOCATION: SEQUENCE:0 SUMMARY:> Webinar: Fair Credit Reporting & FACT Act Risk-Based Pricing Noti ces: Clarifying the Confusion UID:d2b12abd-c3ce-47c2-817c-732fe1f31b1a URL:http://www.njcul.org/-webinar-fair-credit-reporting-fact-act-risk-based -pricing-notices-clarifying-the-confusion-2013-03-20.aspx END:VEVENT END:VCALENDAR