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A Banker's Responsibility: FCRA and FACT Act

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

Upcoming
DATE

Monday, May 4, 2026
2:30 pm - 4:00 pm

INSTRUCTOR

Kimberly Boatwright

FORMAT

Webinar

$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • Customer Service
  • General Compliance
  • Lending
  • Lending Compliance
  • Mortgage Lending
  • Risk Management/Legal
  • Transaction Compliance
  • Commercial Lender
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Credit Analyst
  • Deposit Operations Manager/Specialist
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • New Accounts Representative
  • Private Banker
  • Risk Manager
  • Small Business Lender
  • Training Manager
  • Trainer

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This 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. Many of the provisions are daunting, 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.

What You'll Learn

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

Who Should Attend

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

Kimberly Boatwright

Instructor Bio

Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC, and has more than 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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