The Credit Card Accountability Responsibly and Disclosure (CARD) Act, published on July 15th, was designed to protect consumers from predatory practices in credit card programs. Only recently have the full compliance implications surfaced. Many credit unions have been confronted with a host of last minute compliance issues as the bill's reach is all open end lines of credit, not cards alone.
As of March 31, 2009, over 5,230 credit unions offered home equity lines of credit, all of which are subject to the August 20th implementation deadline related to the 21-day rule.
To discuss compliance options available to credit unions, Callahan & Associates President Chip Filson is hosting a panel of industry business partners this Thursday, August 6th at 4 p.m. EDT. The partners provide data processing, card processing and statement services – all services that are affected by the bill.
“Credit unions need to know there are options to comply,” says Filson. “The panel will highlight the different ways they are assisting credit unions.”
Listerhill Credit Union and the credit union CUSOs will all join in a roundtable following each panelist’s opening remarks. The panel includes:
- Brad Green, CEO, Listerhill Credit Union
- Jim Vilker, Business Manager, CU*Answers
- Ron Daly, CEO, DigitalMailer
- Sara Petty, VP of Strategic Initiatives, TMG
Questions may be submitted in advance by emailing firstname.lastname@example.org.
The 75-minute webinar is designed for credit union CEOs, CFOs, Compliance Officers and Lending Officers. Please visit the webinar homepage to register for this event. The webinar will begin promptly at 4 p.m. EDT, 1 p.m. PDT.
Please contact Marissa McGee at (202) 223-3920 ex. 120 or email email@example.com with any questions related to this event.