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The CFPB says that the Texas-based First Investors Financial Services Group Inc. distorted consumer credit records for years. The company was aware of flaws in their computer system that resulted in inaccurate information being provided to the credit reporting agencies. This action makes clear that computer system or vendor mistakes are not valid excuses for submitting incorrect information to the credit reporting agencies. [8/21/14]
Complaints: Why you shouldn’t shun them, but invite them! In this era of exploding complaint volume, this certificated webinar (see instructions in video for how to get your free certificate of completion) takes a look at the risks, evolution, and need for a management strategy to effectively deal with complaints. Before that, we cover what’s hot in compliance, as seen by the editors of Risk InboX. This week’s hot items: 1) HUD cancels Obama era Fair Housing rule; 2) “HMDA” for boards and management; and 3) CFPB has added a new dimension to its complaint database. Click here to watch now.
What makes the patented AffirmX Risk Intel Platform different than anything else out there? Take the next 3 minutes to see what this revolutionary tool can do for your financial institution. Watch Video