Description
Understand the legal obligations for credit card issuers and the common pitfalls and solutions.We live in an increasingly cashless society, particularly so in light of COVID19related restrictions on cash transactions. Credit cards are ubiquitous, used daily in billions of transactions. Credit card issuers therefore continue to face threats of litigation and regulatory and enforcement scrutiny, which is only likely to increase as a result of current economic conditions stemming from pandemic. Credit card issuers are subject to extensive rules under a wide range of statutes, including the Truth in Lending Act, the Credit Card Accountability Responsibility and Disclosure Act, the Fair Credit and Charge Card Disclosure Act, and the Fair Credit Billing Act, amongst several others. This material will discuss the significant legal obligations for credit card issuers and outline common pitfalls and solutions.
Date: 2021-07-29 Start Time: End Time:
Learning Objectives
Disclosure Issues
• Truth in Lending Act (TILA)
• Disclosure Requirements
• Common Violations
• Damages
• Credit Card Accountability Responsibility and Disclosure Act (CARD Act)
• Disclosure Requirements
• Common Violations
• Damages
• Fair Credit and Charge Card Disclosure Act (FCCCDA)
• Disclosure Requirements
• Common Violations
• Damages
Billing Issues
• Fair Credit Billing Act (FCBA)
• Application
• Common Violations
• Damages
• Application of State Usury Laws
• Pay-To-Pay Issues
Cyber Security Issues
• Payment Card Industry (PCI) Standards
Collections Issues
• Fair Debt Collections Practices Act (FDCPA) and State Court Analogs
• Application
• Common Violations
• Damages
• Telephone Consumer Protection Act (TCPA)
• Application
• Common Violations
• Damages
• Fair Credit Reporting Act (FCRA)
• Application
• Common Violations
• Damages
• State UDAP Statutes
• Application
• Common Violations
• Damages
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Benjamin E. Gordon-Stradley Ronon Stevens & Young, LLP, Eric M. Hurwitz – Stradley Ronon Stevens & Young, LLP
