Metro 2, e-OSCAR and the New FCRA/CFPB Compliance Requirements
|Date / Time:
Most credit reporting disputes are handled through the e-OSCAR/ACDV system, which has had recent updates that affect data furnishers' legal obligations in regard to these disputes. This is an active area of litigation and regulatory scrutiny.
This topic will help attendees better understand their potential legal risk and compliance obligations with respect to consumer credit reporting. Special problems relating to the Metro 2 credit reporting guidelines relating to bankruptcies, disputed accounts and identity theft also will be addressed.
Metro 2 Credit Reporting Guidelines
e-OSCAR and FCRA Litigation Risk and Compliance Burden
- Furnishers' Initial Reporting Obligations Under 15 U.S.C. § 1681s-2(a)
- Recent FCRA and Related Litigation
- Reporting of Accounts Included in Bankruptcy
- Chapter 7
- Chapter 13
- Reporting of Accounts in Dispute
Handling Consumer Claims of Identity TheftAbout The Presenters
- Recent Developments in FCRA/CFPB Compliance Requirements
- Responding to a CRA Dispute and the ACDV System (15 U.S.C. § 1681s-2(b))
- Scope of Review of Consumer Dispute
- Deletion of Tradelines and Related Obligations
Stephen J. Newman
- Partner at Stroock & Stroock & Lavan LLP
- Experience in defending class actions and other representative litigation, as well as proceedings commenced by government officials on behalf of the general public
- Extensive knowledge of state and federal laws relating to credit reporting, data security and privacy, debt collection, unfair business practices and other consumer protection statutes
- Defended many cases under the Fair Credit Reporting Act, California’s Consumer Credit Reporting Agencies Act, California’s Unfair Competition Law and Consumers Legal Remedies Act, representing a broad range of companies, including retailers, banks, student and mortgage lenders, Internet-based businesses, insurers, and manufacturers
- Handled litigation involving a variety of other issues, including data security, consumer privacy, securities fraud, accountants’ malpractice, actuaries’ malpractice and insurance
- J.D. degree, with honors, University of Chicago; A.B. degree, magna cum laude, economics, Harvard University
- Associate at Stroock & Stroock & Lavan LLP
- Practice focuses on the defense of class actions and other complex litigation, including actions under the Telephone Consumer Protection Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, California’s Unfair Competition Law and Consumer Credit Reporting Agencies Act, as well as related claims in federal and state courts
- Counsels clients with regard to compliance and regulatory matters and has defended proceedings commenced by government agencies
- Represented a broad range of companies, including banks and other lending institutions, chemical manufacturing companies, and other Fortune 500 companies
- Has successfully resolved more than forty filed or threatened credit reporting litigations, and never has had an adverse judgment entered against any of her credit reporting clients
- J.D. degree, University of California; B.A. degree, summa cum laude, University of California, Riverside
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