September 20, 2012
12:00 pm - 1:30 pm PT
1:00 pm - 2:30 pm MT
2:00 pm - 3:30 pm CT
3:00 pm - 4:30 pm ET
Meet the Presenter
Elizabeth Fast, JD & CPA,
Britt & Browne LLP
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The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 imposed dramatic changes to the substantive aspects and disclosure rules regarding issuing, marketing, maintenance, and collection of credit cards. Although the majority of these new changes became effective in 2010, new changes continue to be adopted.
Does your credit union have a good understanding of these sweeping changes? If not, you could be exposing your credit union to significant risks of loss and expensive lawsuits. This webinar will explain everything your credit union needs to know about the new credit card rules and review the proper regulatory disclosures. In addition, it will cover the best practices that some credit unions are taking to reduce their risk of non-compliance.
Overview of the Credit Card Act
When and how you can change the interest rate, including promotional rates and universal default rates
When and how you must disclose other changes
Member rights to cancel the card before the change and pay off the balance over time
Timing requirements for periodic statements
Special rules for members under 21 years old
Possible claims of unfair and deceptive acts or practices
WHO SHOULD ATTEND?
This informative session will benefit loan officers and loan operations personnel at all levels, including compliance staff and managers.
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