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ISSUE 14 | May 2012

At the heart of each of our businesses are real people who need financial options and are critical to getting our economy back on track. While bank regulators have pushed the lending industry to enhance safety and soundness, the pressure is rising on consumers who have a growing, unmet need for credit.  

We believe that now is the right time to expand portfolios by offering the right credit solution to the right customer. Now is the time because consumers need relief, you need to grow, and Experian® has developed a wide range of solutions to help you succeed.

Let’s get specific.  In this issue, I have included an article on Extended ViewSM, a new core bureau score that will raise your scoreable population up to 99% of your inquiries – a groundbreaking change.

You have told us the number-one reason people abandon online applications is because they are worried they’ll be declined. Change this 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.  Premium Prequal allows you to use credit scores to your advantage by empowering your consumer and increasing traffic into your acquisition funnel.

Lastly, the recently proposed rule defining who will be covered by the CFPB’s nonbank supervision program has left lenders wondering what to expect in 2012.  Read more on what these rules could mean to you.

The time is now to grow your portfolio. Continue to look to Experian to stay on top of the financial world and to give you the tools you need to navigate it successfully.

For additional information, please contact your account executive, %%CIS_SALES_REP%% at %%CIS_SALES_REP_PHONE%% or %%CIS_SALES_REP_EMAIL%%.

New Rule Proposed by the CFPB
In February, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that defined third-party debt collectors. This is the first of many proposed rules that will define the larger market participants that will be susceptible to the bureau’s nonbank supervision program.
Read the full article
Opportunities Within the Underbanked Market
Nearly 64 million U.S. consumers have limited or no traditional credit history. Approximately 25 percent of the population could benefit from a wide range of financial products and services.
Learn more
Make Matching Prospects With the Right Products Easy
Improving acquisition numbers in the current market has many benefits. 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.
Read the full article

State of the Automotive Finance Market - Review of First Quarter 2012
Find out the latest trends and analyses of the automotive finance market. Gain insights into delinquency rates and overall automotive finance trends, how subprime is growing on new and used vehicles, how lender type, risk segments, rates and scores compare by loan-to-value and more.
Sign up for the Free Webinar
Drill Down Deeper Into Your Portfolios
The current economic situation has rendered many lending products potentially obsolete for large portions of a portfolio. Quantify a direction and discover the magnitude of needed change with data from the past.
Learn More, read the Credit Union Journal Article
Marketing Intelligence Shows Consumer Retail Spending Is Trending Upward
Retail spending continues to trend up from a year ago, showing encouraging signs that consumer confidence is growing in a positive direction.
View the Infographic

Best Practices Forum

New Large Bank Pricing Rule
The revised rule attempts to address lenders' 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.
Learn More
First Financial Asset Management Inc. and Experian
Matthew Maloney discusses how his group has been able to improve their efforts while tapping into Experian’s consulting services and tools.
View video
Protect yourself from scrutiny
With the collections industry under the CFPB microscope it has become critical to identify accounts with a protected status before initiating efforts to collect. Minimizing legal risk and optimizing resources to avoid public scrutiny are steadily becoming mainstream.
Learn More

In the News

VantageScore - Lenders Look at More Than Your Credit Score
Credit.com article summary: “While credit scores are an important part of a lender’s decision to grant a loan and at what terms, other factors also considered in the underwriting process.”
Read the full article
Benefit From Knowing a Consumer's Ability to Pay
Income estimation models are being incorporated into various processes to improve prospecting techniques and allow for more informed decisions.
Learn more

Experian Webinars

Unlock the power of historical trade-level credit data and redefine your business strategies.
Customers don't have equal value. The ability to separate and differentiate beyond a risk assessment is vital to providing better service, offering superior rewards, granting higher credit lines and managing profitability.
Watch Webinar Now

Redefine your credit marketing strategies and identify the best near-prime prospects
Learn how to target more effectively across a broader credit spectrum of consumers while mitigating risk with tools to aid you with identifying the most credit-worthy, near-prime prospects.
Live, June 13, 2012 11:00 am Pacific/2:00 pm Eastern
Register Now

Client Corner
Test your knowledge about: credit cards, authorized users, and more.
The first 25 respondents will receive a complimentary Experian to-go cup!
Take quiz
Unlock your credit: Know your plastic
Knowing the difference between the types of cards a person has can make a difference when looking at credit history. Not all cards are the same and will impact credit scores differently.
Learn more

Vision Conference 2012:
In early May, Experian hosted it's annual Vision 2012 Conference. This sold out event of your peers and leaders in industry joined together to get real-world answers to the tough questions about how to improve business performance at every stage of the Customer Life Cycle. We hope your were able to attend, but if you missed this industry's top rated conference we have included some of our most compelling content and studies discussed by industry experts that will show you how to use the power of cutting-edge technology and insightful analysis to become — and remain — a profit leader.
Universe Expansion — Today’s Growth Strategies
Providing lenders with new ways to indentify responsive risk-appropriate, near-prime consumers. Creating a platform for optimal efficient strategies for acquisition and expansion.
Download the Whitepaper
Translating Data Into Intelligence
Current trends and growing pressures require more sophisticated analytical techniques. Maximizing your interactions with clients with greater accuracy is becoming increasingly important.
Download the Whitepaper
Mitigate Auto Loan risks
Understanding where delinquencies are most likely to occur can be key in automotive finance industry. Experian has found several clear patterns that can help lenders.
Download the Whitepaper
Predict Identity Theft
Fraud schemes have climbed 12.6 percent in 2011. Using timely and relevant data to predict identity theft and fraud.
Download the Whitepaper
Consumer Financial Protection Bureau to enforce consumer protections laws
Richard Cordray has outlined a number of priorities which include: simplifying financial disclosure forms for credit cards, mortgages and student loans, along with existing business practices impact on consumers.
Download the Whitepaper
Watch Experian TV:
You might have missed us at this year's 2012 Vision Conference. See highlights from the event with in-studio interviews, "hard news" segments, key industry topics addressed by today's experts and Trend Watch.
View video
Join the Vision Conversation
Follow Vision on Twitter

Experian Upcoming Events -
Come See Us

Underbanked Financial Services Forum
June 13-15
Westin St. Francis, San Francisco, CA

Debt Connection Symposium (DCS)
September 10-13
Red Rock Resort, Las Vegas, NV

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