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Product Update Notification - 11/06/07 Fair Credit Reporting Act Policy Update Details What's New Topic 5 - Structure of Accountability. Includes the following subtopics: Board of Directors and Senior Management Compliance Officer Compliance Committee Topic 18 - Duties of Card Issuers Regarding Changes of Address. Includes the following subtopics: General Alternative Timing of Address Validation Form of Notice Topic 19 - Affiliate Marketing Policy. Includes the following subtopics: Policy Statement Enforcement Exceptions to Policy Regulatory Background Affiliate Marketing and Opt-Out Exceptions Scope and Duration of Opt-Out Requirements Opt-Out Notices Opportunity of Opt-Out Opt-Out Methods Delivery of Opt-Out Notices Renewal of Opt-Out Topic 20 - Audit Policy. This topic provides guidance with respect to a financial institution's requirement to conduct periodic independent audit reviews of its FCRA/FACTA and identity theft compliance activities. Fair Credit Reporting Act Sample Opt-Out Notices Form Template (5 pages). This new form template product is included with the purchase price of this policy template, and includes the following notices: Initial Opt-Out Notice - Single Affiliate Initial Opt-Out Notice - Joint Affiliates Renewal Notice - Single Affiliate Renewal Notice - Joint Affiliates Voluntary No Marketing Notice What's Revised Topic 2 - Policy Statement. The "General" subtopic was revised to add a statement regarding a financial institution's Identity Theft Program. Topic 4 - Definitions. 14 new definitions were added. Topic 10 - Identity Theft Program Policy. Formerly entitled "Identity Theft and Social Engineering Procedures" (Topic 9), the following subtopics were added: Policy Statement Enforcement Exceptions to Policy Identity Theft Program Overview Risk Assessment Process Red Flag Categories and Detection Identity Theft Prevention and Mitigation Techniques Topic 15 - Sharing Information with Affiliates. A new subtopic entitled "Affiliate Marketing" was added to reference this new topic within the policy. Topic 16 - Disputed Information. Formerly Topic 15, a new subtopic entitled "Notice of Address Discrepancy Procedures" was added. Topic 22 - Retention of Documentation. Formerly Topic 18, minor changes were made to reflect protection and archive techniques employed by a financial institution. Identity Theft Affidavit Packet Form Template (9 pages). Additional governmental agency or service contacts were added to page three. New tracking column areas were added to the "Document Checklist" section to include: Credit Bureaus Creditors Account Statement Reviews Internet Banking Access Law Enforcement Authorities Product Contents Purpose and Contents - Topic 1 Policy Statement - Topic 2 Fair Credit Reporting Act Background/Requirements - Topic 3 Definitions - Topic 4 Structure of Accountability - Topic 5 Obtaining Consumer Reports - Topic 6 Disclosure Requirements - Topic 7 Adverse Information Procedures - Topic 8 Credit Score Disclosure Procedures - Topic 9 Identity Theft Program Policy - Topic 10 Repollution Procedures - Topic 11 Fraud and Active Duty Alert Procedures - Topic 12 Notice of Negative Information Procedures - Topic 13 Prescreen and Opt-Out Disclosure Procedures - Topic 14 Sharing Information with Affiliates and Others - Topic 15 Disputed Information - Topic 16 Medical Information Procedures - Topic 17 Duties of Card Issuers Regarding Changes of Address - Topic 18 Affiliate Marketing Policy - Topic 19 Audit Policy - Topic 20 Staff Training - Topic 21 Retention of Documentation - Topic 22 Includes the FACTA/FCRA Final Rules: Address Discrepancies Affiliate Marketing Credit Score Disclosures Identity Theft Program Repollution Procedures Fraud and Active Duty Alerts Notice of Negative Information Prescreen Opt-Out Notice Medical Information Red Flag Procedures This includes the following form templates: Credit Score Information Disclosure Form (1 page) Fair Credit Reporting Act Sample Opt-Out Notices (5 pages) Identity Theft Affidavit Packet (9 pages) Prescreen Opt-Out Notice Examples (2 pages) Ordering Information This revised product is available to purchase from Bankpolicies.com for: $300.00 - List Price - or - $100.00* - Update Price *Applies only to clients who have purchased the Fair Credit Reporting Act Policy Template within the last three years in addition to the following prior updates (if applicable): Fair Credit Reporting Act Policy Template Update - 12/01/05 - $25.00 Fair Credit Reporting Act Policy Template Update - 09/06/05 - $25.00 Fair Credit Reporting Act Policy Template Update - 07/19/05 - $50.00 If you have ordered this product after 10/06/07 you are eligible to receive the product update at no charge. Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies). NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com. Find Out What's New or Revised with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. We encourage you to subscribe today for this free and convenient service. |