Breakout Session #4 & #7

Minimizing the Risk of Consumer Loan Fraud
Jim Bullard, CUNA Mutual Group

Processing a consumer loan for qualified borrowers is much easier than in the past due to technology. However, with the advantages of technology, there are also disadvantages. For the credit union and the member who is trying to obtain a loan, the advantages include faster service, the ability to obtain services remotely and the ease of doing business, to name a few. However, the disadvantages of technology for the credit union are advantages for the fraudster. They include the availability of information at the fraudster's fingertips and the ability to "hide" behind a computer. This session shares best practices that will aid in minimizing exposure to consumer loan fraud.

We will:

  • Discuss consumer loan fraud trends
  • Recognize the importance of internal controls with regards to lending
  • Outline ways to minimize consumer loan fraud losses

About Jim Bullard

Jim Bullard is a risk management consultant for CUNA Mutual Group. In this role, he is responsible for assisting credit unions in identifying areas of risk in their operations and recommending appropriate controls to reduce loss exposures. He serves credit unions in Georgia, Alabama, and Mississippi. Bullard also serves as a Subject Matter Expert for Member Business Lending. Following a 23 year banking career, Bullard held consultant positions at Solomon Edwards Group and Promontory Financial. He joined CUNA Mutual Group in 2012. Bullard graduated from the University of Georgia with a bachelor’s degree in business administration specializing in finance. He also completed the Graduate School of Banking at Louisiana State University.