The Federal Credit Reporting Act (FCRA) is an important United States federal legislative act that promotes fairness and privacy for consumers when they are applying for a loan or line of credit. Here are a few quick Dos and Don’ts to stick to when you are working with a customer who may be interested in financing a purchase:
The information above is an excerpt from a policy provided by one of our partners, Hudson Cook LLP. We work with them and other industry experts to make sure we are providing accurate and current information, and we manage that information in an online Compliance Management System. One of the benefits of using a Compliance Management System is that it houses all the policies and guidelines you need to be aware of for your industry so you don’t have to go hunting down information; it is simply at your fingertips.