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What to Do About Credit Balances or Errors

We don’t often think about credit accounts with credit balances (more often, we are thinking about a deficit of payments). We may on occasion receive complaints, though, about alleged errors on credit accounts. Both situations require specific compliance actions. Enacted in 1975, the Fair Credit Billing Act (FCBA) is a …

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Where is FCRA compliance hiding?

Question: Where can I find all the compliance provisions required by the Fair Credit Reporting Act? Answer: Here, there, and everywhere. The Fair Credit Reporting Act (FCRA) was a law passed in the 1970’s and was fairly straight forward.  The primary purpose of the FCRA was to provide guidance to consumer …

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Improve Your Vendor Risk Management through an Efficient, Effective Assessment Process

By Jean Bobin Vendor risk management has become an increasingly critical—and complex—endeavor. Lenders are now accountable to regulators, stakeholders, customers, and equity markets for the actions of their third-party service providers. An increased dependence on vendors/service providers with access to consumer non-public information has led to greater risk exposure. And, …

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