It is important that credit professionals be aware of the specific government legislation that pertains to business credit. This learning module presents the following government legislation as it pertains to business credit: Antitrust Legislation, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Truth in Lending Act and Regulation Z, the Equal Credit Opportunity Act and Regulation B, the E-Sign Act, the Unclaimed Property Law (Escheatment), the Sarbanes-Oxley Act and SAS 70 Reports. After successful completion of this learning module students should understand the basic premises of the four most important federal antitrust acts; the Fair Credit Reporting Act; the rules a creditor must follow under the Fair Debt Collection Practices Act; information a creditor must disclose to a consumer applying for credit under the Truth in Lending Act/Regulation Z; practices a creditor must follow under the Equal Credit Opportunity Act/Regulation B; what constitutes an e-signature; the procedures and requirements a holder of unclaimed property must follow; why the Sarbanes-Oxley Act was enacted and its requirements; and the basic benefits of an SAS 70 Report.
Wanda Borges, Esq., is the principal member of Borges & Associates, LLC, a law firm based in Syosset, New York. For more than twenty-eight years, Ms. Borges has concentrated her practice on commercial litigation and creditors' rights in bankruptcy matters, representing corporate clients and creditors’ committees throughout the United States in Chapter 11 proceedings, out of court settlements, commercial transactions and preference litigation. She is a regular lecturer for NACM National and its affiliated associations on commercial and corporate law (including ECOA, the Uniform Commercial Code and FCRA), insolvency matters, creditors’ rights issues, antitrust law and the Sarbanes-Oxley Act of 2002. Ms. Borges has authored, edited and contributed to numerous publications including Thomson West’s Enforcing Judgments and Collecting Debts in New York, NAB’s book Out of the Red and into the Black, and the BCCA’s Credit & Collection Handbook.