|
|
Maintain compliance:
Risk Based Pricing Rule |
|
February 03, 2011 |
|
|
Jan. 1, 2011, was the deadline for compliance with the new Risk-Based Pricing Rule. Under final rules issued in 2009 by the Federal Reserve Board and the Federal Trade Commission, credit card issuers and other lenders must tell consumers when they've been granted credit on worse terms than other consumers, based on their credit report or credit score.
The rules expand existing provisions under the Fair Credit Reporting Act that require creditors to provide consumers with an "adverse action" notice if they were denied credit because of their credit history.
|
|
Access a Webinar and more information to help with your risk-based pricing strategy.
|
| |
|
|
|
|