Newsletters
March 2008
CREDCO Introduces New Red Flag Solutions
Helping Dealers Comply with Red Flag Rules
This month, First Advantage CREDCO introduced its new Red Flag Solution, the latest in our growing line-up of consumerinformation solutions to help automotive
dealers comply with the new Red Flag Ruling. The Red Flag Solution features an expanded product offering, which includes identity verification, OFAC screening and credit reporting services.
Are you prepared?
As a requirement of the new Red Flag Rules, which went into effect January 1, 2008, you have until November 1 of this year to establish and maintain an identify theft prevention program.
Our Red Flag Solution combines several powerful information tools that help you meet the new compliance requirements. And to simplify compliance and streamline overall F&I processes, the Red Flag Solution automatically delivers results with your customer’s credit report.
“Our Red Flag Solution helps dealers meet the new compliance requirements quickly and easily, so they can focus on sales.””
Patrick Colbert, Senior Vice President
First Advantage CREDCO
Red Flag Solution
3 Powerful Information Tools
BuyerID Index: Helps you quickly confirm your customer’s identity with an easy-to-interpret numeric score.
OFAC Screening: Automatically screen your customers against the OFAC list of terrorists, drug traffickers and money launderers prior to any sale.
Credit Reporting Services: Single-source access to credit reports from all three national credit bureaus – plus, we’re integrated on more than 40 major dealer sales and finance platforms!
IMPORTANT NOTICE
Tradeline Account Number Suppression
Due to new credit bureau compliance regulations, trade-line account numbers on all First Advantage CREDCO credit reports will be suppressed effective April 1, 2008.
This affects all CREDCO automotive, recreational vehicle, marine and motorcycle customers. We fully support this compliance measure because it strengthens our ongoing commitment to protect sensitive consumer information.
If you have questions about the new credit bureau compliance regulation or CREDCO’s Red Flag Solution, please contact your First Advantage CREDCO support team at (800) 694-1414.
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