Webinar 53 - Part 2: A Deeper Look - How to Lend with the Latest Credit Reporting Changes
April 4, 2019 | 1pm Central
Hosted by Jack Kelly Jr, CLE
There have been sweeping changes in the way that certain tradelines are reported to credit bureaus. While these changes have not been communicated clearly, that has led to a great deal of confusion about how to lend. In Webinar 51, we identified that the majority of attendees were not aware of these changes and, after last week’s onsite visit at a client credit union, it was very apparent that this is still a unknown issue.
Join Jack Kelly for Webinar 53, as he goes more in depth about the elimination of the reporting of medical collections, Tax Liens, and civil judgements by all 3 credit bureaus. We will focus on a specific investigation initiated by the Consumer Financial Protection Bureau (CFPB) into medical collection agencies reporting derogatory tradelines to the 3 credit bureaus before the consumer was notified of the collection.
Webinar 53 will also address the following ideas:
- Effects on members’ credit scores and the impact of lending decisions
- Implementing new interview standards for lenders
- Aligning loan guidelines and policies with changes
- Delivering an accurate and consistent message to our members
- Identifying the motivation and timeline for the changes
- Reviewing new medical collection reporting criteria
- Generating solutions for lending and developing a staff training program
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