Managing Modifications to Newly Acquired Credit Card Portfolios

Identify the compliance risks in implementing changes to credit card portfolios following merger or acquisition of new accounts.

Tuesday, February 26, 2019 | 2:00pm - 3:30pm ET

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Credit card accounts are subject to numerous federal laws including the Truth in Lending Act and the Fair Credit Reporting Act as well as related consumer credit laws such as the Military Lending Act. When acquiring new credit card portfolios, you should be aware of the requirements of federal law to periodically review certain terms of the credit card accounts and provide notice to consumers regarding any changes to account terms. With over 360 million credit card accounts in the United States, regulators continue to hear consumer complaints leading to a focus on compliance issues for credit card accounts.  

This webinar will provide you a baseline understanding of areas of concern when reviewing credit card portfolios and implementing changes to credit card accounts, including changes from fixed-rate to variable-rate accounts, changes to rewards programs, and replacing existing accounts with new products.

Key Takeaways

  • Discover why an advance written notice is required for “significant changes” to credit card accounts
  • Review best practices for providing notice of changes to credit card accounts
  • Learn what to look for when reviewing portfolios for potential rate changes
  • Discuss primary sources of exposure to litigation, enforcement action or consumer complaints after changes to credit card accounts
  • Learn about mechanics of managing protected balances after a merger or acquisition of credit card accounts
  • Walk through steps to take when reviewing portfolios for rate changes
  • Review how to ensure compliance and proper disclosure when implementing changes to credit card accounts or encouraging voluntary applications for new card accounts

Register Now
$295 Members | $395 Nonmembers
(Additional $50 for CD) 
One registration gives your entire credit union access to the on-demand recording until February 26, 2020.
Already registered? Go to the Online Training Center to view live.

Who Should Attend?

  • NAFCU Certified Compliance Officers (NCCOs)
  • NAFCU Certified Risk Managers (NCRMs)
  • Chief Executive Officers, Chief Financial Officers and executive management
  • Compliance, risk, audit, legal, lending, operations and finance staff
  • Operations management and staff
  • Business development staff
  • Credit union counsel and attorneys
  • Credit union examiners
  • Open to all credit unions, regardless of membership or charter type!

Education Credits

  • NCCOs will receive 1.5 CEUs for participating in this webinar.
  • NCRMs will receive 1.5 CEUs for participating in this webinar.
  • CPA credit information is below; recommended 1.5 CPE credits.

CPA Certification Credit Information

  • Reviewer: Josie Collins, Education Manager, NAFCU
  • Learning Objectives: Discover why an advance written notice is required for “significant changes” to credit card accounts. Review best practices for providing notice of changes to credit card accounts. Learn what to look for when reviewing portfolios for potential rate changes. Discuss primary sources of exposure to litigation, enforcement action or consumer complaints after changes to credit card accounts. Learn about mechanics of managing protected balances after a merger or acquisition of credit card accounts. Walk through steps to take when reviewing portfolios for rate changes. Review how to ensure compliance and proper disclosure when implementing changes to credit card accounts or encouraging voluntary applications for new card accounts.
  • Program Level: Basic
  • Prerequisites Needed: None
  • Advance Preparation Needed: None
  • Delivery Method: Group Internet-Based
  • Recommended CPE Credits: 1.5 credits
  • Recommended Field of Study: Regulatory Ethics - Technical

NASBA Sponsor Logo

National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more.

About Our Webinars

Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer.

About the Presenters

Richard Garabedian
Richard Garabedian

Counsel, Hunton Andrews Kurth

Eric Flynn
Eric Flynn

Associate, Hunton Andrews Kurth