Experian’s Income InsightSM addresses requirements of final Federal Reserve Board rules for assessment of "ability to pay"
To meet growing market and regulatory needs, Experian developed Income InsightSM, its latest innovation in risk-management models, as a proven predictor for determining consumers’ ability to pay. Income Insight meets the Federal Reserve’s “ability to pay” provision in the recently approved credit card rules. It also is the first income estimation model that can be delivered in a tri-bureau fashion based on credit reports from any of the three largest credit reporting agencies. The model’s output is a specific dollar value rather than a range that would limit its usefulness.
Income Insight is a unique product that was developed from Experian’s deep database of verified income and built on proprietary credit attributes. Its performance statistics and model development processes demonstrate that Income Insight is empirically derived, statistically sound and entirely consistent with the new regulations. Experian’s Income Insight product currently is being successfully utilized by its clients to evaluate borrowers’ ability to pay.
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To find out more about Income Insight, contact your local Experian sales representative or call 1 888 414 1120.