Providing automotive dealers, financial institutions, and other industries with the fastest, the most reliable, and most comprehensive line of products and services since 2004!
These are the 4 easy steps to Red Flags Compliance. Have a written Red Flags rule in place. In your eCredit Complete software, go to ‘tools’ then click Red Flags Rules Template. You can use that template as your own… Continue reading4 easy steps to Red Flags Compliance by Jeff VanOrnam
Adopt clear, written policies for taking online credit applications. Set the Web site to provide click-through authorization before the customer can proceed with online credit application. Use encryption technology to make sure transmission of the credit application is secure. Never… Continue reading10 do’s and don’ts pertaining to taking a credit application online
As noted, both the FCRA and ECOA require creditors to give consumers notices if they take adverse action in response to credit applications. Adverse action essentially means a refusal to grant credit in substantially the amount or on substantially… Continue readingChanges to Risk Based Pricing and Adverse Action Notices 2011