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Reg Z Fair Disclosure actions audio conference Dec. 8
MADISON, Wis. (11/30/10)--“Reg Z Fair Disclosure and Call to Action,” a free live audio conference sponsored by the Credit Union National Association (CUNA), in conjunction with CUNA Mutual Group, will air from 1 p.m.-2 p.m. CT, on Dec. 8. The Federal Reserve Board recently issued a comprehensive proposal that includes imposing new consumer disclosures for credit life insurance, credit disability insurance and debt cancellation/debt suspension (including guaranteed asset protection) products. These disclosures go well beyond insuring that consumers are informed about these products; the proposed disclosures cast these products in a strictly negative light and strongly discourage the purchase of these products. If enacted, the disclosure language will have a significant negative impact on the entire credit union industry, especially members. Consumers have received an estimated $2 billion in benefits from credit insurance group products over the past five years, according to industry data. CUNA and CUNA Mutual are working together to mobilize the credit union industry and fight for disclosures that are fair, accurate and in the consumer’s best interest. The audio conference will be led by Bill Klewin, vice president and staff director of the Lending Lab in the Lending Services Enterprise for CUNA Mutual Group. Each registration provides call access for one phone line; however, the audio conference can be listened to by several people at once--in a conference room, for example. A recording of the audio conference will be available within 48 hours of the live audio. For more information, use the link.
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