Regulatory Compliance

We help you address and comply with regulations and internal policies. Regulators continue to publish regulations to enhance consumer protection and address safety and soundness. We’ll help you ensure the consumer is the focus, and not just satisfy these requirements, but to use the implementation of these regulations in an innovative way to be a source of competitive advantage.

Below are some of the key laws and regulations Experian can assist you with compliance. Ready to get started? 

Basel II and III

Basel II and III are global regulatory standards for capital adequacy, stress testing and market liquidity risk agreed upon by the members of the Basel Committee on Banking Supervision. Beginning in 2014, US regulations have instituted an Integrated Capital Framework which includes Basel III, a Standardized and Advanced Approaches rule and the incorporation of these rules into CCAR and DFAST stress testing.

Comprehensive Capital Analysis and Review (CCAR) and Dodd Frank Act Stress Testing (DFAST)

CCAR - Federal Reserve Board rule to ensure large bank holding companies account for their financial risks and have sufficient capital to operate under economic stress.

DFAST – OCC, FDIC and Federal Reserve Board rules to ensure financial institutions ranging from $10B to $50B account for their financial risks and have sufficient capital to operate under economic stress.

Customer Identification Program (CIP), OFAC and Anti-Money Laundering

Laws are intended to strengthen U.S. measures to prevent, detect, and prosecute international money laundering and the financing of terrorism. These efforts include a Customer Identification Program (CIP), and compliance with OFAC and Anti-Money Laundering (AML) regulations.

Fair Debt Collection Practices Act (FDCPA) and Large Debt Collection Participants

The Fair Debt Collections Practices Act (FDCPA) generally prohibits debt collectors from using abusive, unfair, or deceptive practices to collect debts that are incurred for personal, family or household purposes. Under the FDCPA, a debt collector is someone who regularly collects debts owed to others; however many companies who collect their own debts follow the rules of the FDCPA. The CFPB has assumed enforcement power over large debt collectors, those over $10 million in annual receipts. The CFPB is now accepting complaints on debt collectors and has begun an active supervision and enforcement policy.

The CFPB has also recently initiated the process of clarifying debt collection rules for all debt collectors.

Experian can assist you with compliance with the FDCPA and other rules that impact debt collection, while reducing your roll rate with fewer resources.


FinCEN Final Rule

Under the updated requirements for Customer Due Diligence, covered financial institutions must expand programs, including Customer Identification Programs (CIP), to include Beneficial Owners of Legal Entity customers. The new rule requires financial institutions to collect and verify identity information (name, address, date of birth, Social Security number or passport number for foreign individuals) for each person with at least 25% ownership in the legal entity, and an individual with significant responsibility for managing or controlling the business.

FFIEC Guidance: Authentication in an Internet Banking Environment

U.S. financial institutions are required to mitigate risk using a variety of processes and technologies, employed in a layered approach. Businesses are required to move beyond simple questions, for example, to a more complex out-of-wallet identity verification procedure that incorporates broad data assets and analytics.

Large Bank Pricing Rule

FDIC rule under Dodd-Frank Act detailing deposit insurance assessment for concentrations of leveraged loans, consumer subprime loans, and certain types of mortgage and commercial real estate loans.


Model Risk Management

Supervisory guidance to ensure sound practices in data and attribute governance, model validation, model development, implementation, use, governance and controls, strategies and operations.

Red Flags Rule

All financial institutions are required to have both written and operational identity theft prevention programs. Establishes reasonable procedures that 1) assist creditors and financial institutions in identifying identity theft at the time of origination and 2) set forth provisions specifically applicable to institutions who receive notice of a customer’s change of address on an account or other red flags on an existing account.


Regulation V (FCRA) - Duties of Furnishers of Information

The CFPB’s Regulation V contains important requirements for furnishers of credit information with respect to the accuracy and integrity of such information and the resolution of direct disputes. Furthermore, the CFPB published an important bulletin on September 4, 2013 that outlined its expectations as to the investigation and review of disputes it receives from CRA’s.

Having a comprehensive methodology for assessing data quality throughout the customer lifecycle is key to satisfying this regulatory requirement while bringing the added advantages of minimizing dispute volume and increasing customer satisfaction. Just as important, is to have the systems and processes in place to resolve disputes in accordance with customer and regulatory expectations.

Risk-Based Pricing Rule

Requires companies that use a credit report or score in connection with a credit decision to send a notice to a consumer when, based on a credit report or score, the company grants credit on material terms that are not the most favorable terms offered to a substantial proportion of consumers. In most cases, the rule defines “material terms” as the loan’s Annual Percentage Rate.


Telephone Consumer Protection Act (TCPA)

The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. It also prohibits the use of an "automatic telephone dialing system" to contact "any telephone number assigned to a cellular telephone service" without "express prior consent" from the party being called when the recipient will be charged for the call.


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