PHASE 1

Estimated time to complete: 3 hours, 45 minutes

Federal Laws

  • Equal Credit Opportunity Act & Regulation B (60 min.)
  • Fair Credit Reporting Act  & Regulation V (100 min.)
  • Federal Trade Commission Act Unfair and Deceptive Acts and Practices (35 min.)
  • Dodd Frank Act Unfair, Deceptive and Abusive Acts and Practices (30 min.)

Testing

  • Two case studies dealing with situations an underwriter could face with 15-20 questions relating to the laws applicability to the cases

PHASE 2

Phase 1 must be completed before registering for Phase 2

Phase II of the Underwriter Program begins with a review and quiz of the Core Content for the Underwriter Compliance Certificate program. Review covers the ECOA; FCRA; FTC Act and UDAAP. Both the Collector and Underwriter Phase II programs will offer sessions on “why it matters…Penalties for noncompliance” and end with a final quiz.

Part I: Initial Quiz

  • Core Content for the Underwriter Compliance Certificate program includes: ECOA; FCRA; FTC Act and UDAAP.

Part II: Review of Core Content (based on Initial Quiz results):

  • Equal Credit Opportunity Act & Regulation B
  • Fair Credit Reporting Act & Regulation V
  • Federal Trade Commission Act Unfair and Deceptive Acts and Practices UDAAP
  • Dodd Frank Act Unfair, Deceptive and Abusive Acts and Practices

Part III: Highlights of Key Core Content

  • Highlights the most important topics in the Core Content.
  • May include references to new enforcement actions or developments.

Part IV: Why it Matters

  • Discusses penalties for noncompliance.
  • May include references to enforcement actions by the CFPB.

Part V: Final Quiz

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