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Are you ready to comply with the FTC's new Risk-Based Pricing Rule? |
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October 07, 2010 |
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In a recent poll conducted by Experian, 82 percent of the respondents indicated they were undecided or currently were assessing options for complying with the Risk-Based Pricing Rule. The Risk-Based Pricing Rule was established by the Federal Reserve Board and the Federal Trade Commission (FTC) due to a concern that consumers are not adequately informed of the effect that credit report data has on the annual percentage rate they are charged when obtaining new credit. As a result, organizations will need to comply with the rule beginning Jan. 1, 2011.
Source: Survey responses from August 2010
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