Compliance_solutions
CBC
Compliance View Find Screen
In today’s world, knowing you’re dealership is FTC, FCRA, GLB, and Dodd-Frank compliant throughout the selling process is as important as having cars on the lot to sell. Fact is, as little as one violation can cost a dealer $3,500 and up to $10,000,000 per occurrence and include possible jail time. eCredit Complete’s applicant find screen Compliance View is designed to provide an instant visual of all critical compliance components, using easily identifiable infographics.
eCredit Complete’s Compliance View option provides an interactive visual reference of all necessary compliance documents, using easily identifiable infographics such as green checkmarks and bright red X’s.
The visual indicators on the applicant list find screen include:
  • A color coded Red Flag Indicator, (high risk in red, medium in yellow, and a low risk will appear green)
  • If a Red Flag ID Worksheet was completed (if applicable)
  • If an OFAC check was completed (must be checked on a financed or cash deal)
  • If a Risk Based Pricing and Credit Score Disclosure was produced
  • If an electronic Credit Application was produced
  • If a Privacy Notice was produced
  • Was an Adverse Action letter given (if applicable)
As soon as a potential problem is recognized the user can quickly drill down to the source and remedy the issue. In most cases this happens prior to the customer leaving the dealership.
According to the way the federal laws are written, it is the responsibility of the dealer to set up in-house procedures and have policies in place. Credit Bureau Connection’s Compliance View was created to be completely user configurable allowing the dealer to be in full control of their own policies at all times.
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