Audio Version: Implementing the New Risk-Based Pricing Regulations

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The purchase of the audio event on " Implementing the New Risk-Based Pricing Regulations" includes an instant mp3 download incl. handout material of the February 17th, 2010 live event.  Total duration of the program is 90 minutes long.

Program Description:

On January 15, 2010, the Federal Reserve Board and the Federal Trade Commission jointly issued finalized rules to implement the risk-based pricing notice requirement that was added to the FCRA by the FACT Act.  The new rules require a lender to provide a specific notice to a consumer when the lender sets or adjusts the price and other terms of credit provided to the consumer based on the consumer’s credit report. 

The final rules become effective on January 1, 2011 and:

• Require a creditor to provide a risk-based pricing notice to a consumer when the creditor uses a consumer report to grant or extend credit to the consumer on material terms that are materially less favorable than the most favorable terms available to a substantial proportion of consumers from or through that creditor.
• Provide creditors with several methods for determining which consumers must receive risk-based pricing notices.
• Include certain exceptions to the general rule, including exceptions for creditors that provide a consumer with a disclosure of the consumer's credit score in conjunction with additional information that provides context for the credit score disclosure.

To learn how you can prepare your organization for these new regulations, join our panel of experts for a reboradcast of the February 17, 2010 live CDIA Teleseminar. Mr. Andrew Smith and Mr. Rick Fischer will provide an analysis of what to expect and what you need to be doing now to prepare. Included in this program will be a helpful question-and-answer session moderated by CDIA President Stuart Pratt.

Discussion Topics:
Among other issues, Andrew & Rick will address:

• Who is covered by the new requirements?
• Various approaches that financial institutions may use to comply with the new requirements;
• What are "material terms" & how to determine when they are "materially less favorable";
• What is a “substantial proportion” of your consumers;
• Compliance methods used for determining which consumers must receive risk-based pricing notices;
• When & how to issue a new risk-based pricing notice, including:
• The required content of the notice;
• Form of the notice;
• The timing of the notice; and
• The exceptions to use of the notice.

Hear and Speak with these Industry Experts: 

Mr. Andrew Smith, partner at Morrison & Foerster. Andrew’s practice focuses on consumer financial services law, advising clients on: financial privacy issues relating to the Fair Credit Reporting Act, Fair and Accurate Credit Transactions Act, and Gramm-Leach-Bliley Act; consumer lending issues; and state and federal laws prohibiting unfair and deceptive trade practices. Andrew is a former attorney with the Federal Trade Commission and served as its FACT Act Program Manager  He is a leading expert on data security and privacy issues.  Andrew has counseled many banks, insurance companies, commercial lenders, consumer services companies, utilities and others on how to comply with these new rules.

Mr. Rick Fischer, partner at Morrison & Foerster. Mr. Richard’s practice focuses on retail financial services, privacy and data security. For over 35 years, he has advised a wide variety of companies, including banks, retailers, insurers, technology and other companies, across the United States on the full range of financial services, payment system, and data security issues. He also serves as Washington Counsel for Visa. He is a recognized expert on Washington legislative and regulatory issues.

Moderator: Stuart Pratt, CDIA President and CEO

Alternative Date Available: March 18th, 2010 @ 2:00 pm - 3:30 pm EST (1pm Central, 12pm Mountain & 11am Pacific)

Cost**: $85 How-To-Comply Subscribers CDIA Members  
             $125 CDIA Members 
             $155 How-To Comply Subscribers Non-Members  
             $195 Non-Members & Data Furnishers/Users

Don't miss out on this exceptional opportunity to learn from leading industry expert how you can prepare your organization for this new legislation. Register Today!!!

**The price includes:
Recorded telephone conference with extensive & informative Q&A sessions
Unlimited enrollment per call-insite
A MP3 audio re-play file accessible online after the call

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If you have any further questions about this live teleseminar or would wish to register via phone, please contact Anita Popwell at (202) 408 7408 or at apopwell@cdiaonline.org.

Legal Disclaimer: CDIA’s teleseminar are educational in nature and do not represent legal advice. If you need legal advice, consult an attorney in your