About Samantha Haugh

Website: http://www.experian.com/redefined

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Posts by Samantha Haugh

Collection Industry Under the CFPB Microscope. Learn How to Protect Yourself

Posted on Apr 30 2012 by

A record 12,788 lawsuits were filed in 2011 against accounts receivable management companies for regulatory violations, with the majority related to the Fair Debt Collection Practices Act. This year began with increased concern from the collection industry as the Consumer Financial Protection Bureau (CFPB) shows heightened interest in debt collectors.

With this increased scrutiny, collection companies are under the microscope even more than before. Companies face potential litigation, fines and negative publicity if they attempt to collect on past-due consumers without proper handling. It’s now critical to identify accounts with a protected status before making collection efforts, in order to minimize legal risk and optimize your resources.

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Revisions Proposed To The Large Bank Pricing Rule

Posted on Apr 30 2012 by

On March 20, the Federal Deposit Insurance Corp. (FDIC) announced a proposed amendment to the Assessments, Dividends, Assessment Base and Large Bank Pricing Rule that it put forward in February 2011. The revised rule attempts to address lender concerns that they would be unable to comply with the new rule’s provisions, particularly the added requirement of reporting subprime and leveraged consumer loans.

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Make Matching Prospects With the Right Products Easy

Posted on Apr 30 2012 by

Being able to streamline the process and proactively match the right consumers to the right products will reduce acquisition costs. Consumers also benefit because it has no impact on their credit score.

Clients tell us the number one reason people abandon online applications is because they are worried they’ll be declined. What if you alleviate this concern by matching consumers to the product that best fits their credit profile at the start of the shopping process, greatly improving their chances of approval when they apply?

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Unlock Your Credit: Know Your Plastic

Posted on Apr 27 2012 by

Understanding some fundamental principles about credit cards will help your customers choose the best ones to carry in their purses or wallets.

There are three key issues to consider. First, is the account reported to Experian and the other national credit reporting companies? Second, is the account secured or unsecured? Third, what is the individual’s association with the account?

There are a number of different types of accounts for which a card may be issued. However, the account associated with the card must be reported to Experian in order for it to appear in a credit history and be included in credit score calculations.

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VantageScore – Lenders Look At More Than Your Credit Score

Posted on Apr 25 2012 by

VantageScore® helps consistently measure a consumer’s creditworthiness across all bureau platforms.

The majority of lending decisions are based on custom scores developed and owned by individual creditors. Financial institutions view these custom scores as intellectual property, and they are rarely, if ever, disclosed to consumers. There also are various third-party scores that lenders use in the underwriting process that are implemented differently to assess a consumer’s creditworthiness.

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