Lenders must notify consumers when they receive
materially less favorable credit terms based on consumer report information.
Under the new rule issued by the Federal Reserve Board and FTC, lenders must
provide consumers receiving less favorable credit terms with a risk-based
pricing notice before they sign a credit agreement.
Wolters Kluwer Financial Services’ Indirect
Lending offers a Risk-Based Pricing Disclosure tool kit and Risk-Based Pricing
Notice forms to assist you in implementing the new rule.
Risk-Based Pricing Disclosure Tool Kit components
Use Wolters Kluwer Financial Services Indirect
Lending for your risk-based pricing documents, including:
Wolters Kluwer Financial Services' website for additional information on the FACT Act and compliance information and services for financial institutions.
Indirect Lending division provides you with the resources your organization
needs to manage your compliance programs. We also can help you with Risk-Based
Pricing programs for your dealerships. Contact us today to learn more about our
Risk-Based Pricing services or to order your Tool Kit.