As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), effective July 21, 2011, there was a critical change to dealer’s adverse action notice compliance requirements. These changes amended the adverse action notice requirements under Regulation… Continue readingAdverse Action Notices

  The verification sections in CBC’s eCredit Red Flags Summary process have been compiled from the U.S Government’s Red Flag Ruling implemented in 2007 to address identity theft and fraud. It requires dealerships to establish, maintain, and have on file… Continue readingRed Flags ID Verification & Authentication

The Patriot Act of 2001 requires auto dealers to screen all transactions against the Office of Foreign Asset Control (OFAC) database for Specially Designated Nationals (SDN). CBC can provide automatic OFAC checking with the credit report as well as a… Continue readingFREE OFAC Search provided by CBC

An ID Theft worksheet is directly connected to the Red Flags Rule it allows you to further confirm the identity of a prospect. A typical format spanning across the industry provides basic interview questions based on suspicious behavior, potentially forged… Continue readingID Theft Worksheet and Out of Wallet Questions

The Red Flags Rule is the core piece of the ITPP program. What it means and how it pertains to a vehicle sale or lease is simple. Your Red Flags program should include policies and procedures for detecting, preventing, and… Continue readingThe Red Flags Rule