Compliance Overview
Automate your compliance practices and stay current with FTC Safeguard Rule requirements
Compliance Solutions
Compliance is a daunting task for any dealership, but the key to adhering to the Fair Credit Reporting Act (FCRA) and Equal Credit Opportunity Act (ECOA) regulations is consistency. 700Credit offers an array of products and services in a customized package for your dealership, all of which work to automate your compliance practices, keeping your dealership ready at all times for future audits.
Learning Management System (LMS)
Dealers are fined millions of dollars every year for not following the proper government regulations around the accessing and handling of customer’s sensitive credit data.
As the largest reseller of credit reports from all three bureaus – Experian, Equifax and TransUnion – 700Credit has always strived to provide comprehensive and automated compliance solutions to keep you compliant with every credit report pulled.
To further our efforts in providing the best compliance and risk mitigation services to our clients, we offer a web-based, self-paced LMS which will provide the required training your dealership needs to remain compliant with every transaction and avoid costly fines.
FTC Safeguards Rule
The Federal Trade Commission (FTC) has finalized changes to the Standards for Safeguarding Customer Information rule (Safeguards Rule) under the Gramm-Leach-Bliley Act (GLBA). The updated Safeguards Rule amends the FTC’s 2003 Safeguards Rule and requires financial institutions (which includes Dealers) to strengthen their data security safeguards to protect customer financial information..
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