There are two guides available.
Our FCRA Certification Manuals and Audio files are available for download Click this link. Also, you will find FCRA's Recent Updates listed Below.
$250 – This compliance course was done in a webinar format and there is an audio file to go along with the manual. Please note: This course is structured for lending institutions e.g. banks, and credit unions, and the best option to learn how to stay in compliance or find areas of non-compliance if this is your business model. Just download the manuals and follow with the audio files.
$150 – The Exam will be based on The Certification Training section and has audio reader files to go along with the manual.
Both FCRA programs are currently used by corporations and organizations to train their employees at a combined cost of $400 per user for both programs. These programs are now available here as one package at a special price of $125 here at FCRACertified.com
To prepare for the Exam, just download the manual and audio files. You do not have to listen to the audio files to pass the exam, it is designed for reading. The audio files are reader files that you can listen to while you are on the move or just to allow the audio file to do the reading.
FCRA UPDATES:
The Fair Credit Reporting Act (FCRA) has undergone several significant updates in 2023, aimed at enhancing consumer protection and ensuring fair and accurate reporting. These updates include:
1. Expanded Definition of Adverse Action: The amendments have broadened the definition of adverse action, which now includes decisions made by employers, insurance providers, and landlords based on credit reports or related information.
2. Enhanced Dispute Resolution Process: There is a strengthened dispute resolution process, where consumers have the right to appeal and request a re-investigation of disputed information. Credit reporting agencies must conduct reasonable investigations within specific timeframes and notify consumers of the results in writing.
3. Limits on Reporting Negative Information: The FCRA amendments impose stricter limits on the duration for which negative information can remain on a consumer's credit report. This includes limits on late payments, collections, and judgments, typically up to seven years from the date of delinquency, with some exceptions.
4. Free Credit Reports and Credit Score Access: Consumers now have the right to request free credit reports from consumer reporting agencies once every 12 months. They also have access to information about their credit scores used in determining creditworthiness.
5. Stricter Obligations on Credit Reporting Agencies and Furnishers: Credit reporting agencies are required to maintain strict data integrity protocols and investigate consumer disputes promptly. Furnishers of information, like lenders and creditors, must provide accurate and complete data to these agencies.
Additionally, several transformative FCRA proposals are being considered but have not yet been passed into law. These include:
• Removing medical debts entirely from credit reports.
• Requiring healthcare providers to wait one year before reporting unpaid medical bills.
• Changing pre-screening for unrequested credit offers.
• Requiring prior authorization and identity verification before releasing reports.
• Prohibiting reporting medically necessary procedure debts.
• Expanding the definition of active-duty military members for credit monitoring rules.
• Clarifying the reporting of positive credit information.
• Keeping COVID-19-related evictions off consumer credit reports.
Furthermore, various states have introduced significant credit reporting legislation, such as:
• Banning the use of consumer reports for tenant screening or judging creditworthiness.
• Stopping employers from taking action against people based on their credit history.
• Preventing credit score drops from background checks only.
• Restricting the distribution of unsolicited consumer reports or contact information for mortgages/auto loans.
• Aiming to keep certain criminal records off reports and limit their impact on credit decisions.
These changes reflect a broader shift towards greater consumer protection and transparency in credit reporting.