Protect Your Dealership with NCC’s Compliance Package

Automotive dealers, as well as lenders, operate in a highly regulated environment. As an established automotive industry leader, NCC is proud to offer a comprehensive compliance package that ensures dealers remain fully compliant with the myriad of regulations governing the industry.

NCC Platform

The NCC Platform is your single-source access point for managing all of your compliance requirements and credit report pulls. The NCC Platform enables you to quickly, efficiently access and distribute all necessary documents, including: OFAC Screening, Red Flag, Adverse Action, Risk-Based Pricing Exception Notices, and Privacy Notices. The platform allows you to communicate and process each requirement seamlessly, keeping you in full compliance with government regulations.

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OFAC Screening

NCC automatically screens your customer information against the most current Office of Foreign Assets Control (OFAC) list of terrorists, drug traffickers and money launderers for every transaction and provides full details on each report.

Red Flag

To keep you in compliance with the National Credit Union and Federal Trade Commission (FTC) regulations, NCC offers a Red Flag Rule solution for detecting, preventing and mitigating identity theft. Our Red Flag solution gives you a complete overview of fraudulent behavior and activity in each credit report.

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Adverse Action

For applicants who have been denied credit, NCC offers a fully government compliant Adverse Action solution. According to federal rules, if “adverse action” is taken against a consumer based on information in a consumer report, a formal letter is issued to the customer providing explanation of credit denial.

Risk-Based Pricing

As part of the FTC January 1, 2011 Risk-Based Pricing Rule, NCC provides an Exception Notice with each credit report pulled. Exception Notices can be printed or emailed to customer if requested with authorization has been issued. Failure to comply with the Fair Credit Reporting Act regulations could result in penalties of $3,500 per violation in the case of lawsuits brought on by the FTC.

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Privacy Notices

Dealerships are required by law to provide each customer with a copy of their privacy policy. NCC provides this service as part of our compliance suite.

Out of Wallet Authentication

Out of Wallet Authentication for dealers is an important tool that can—and should—use to help ensure that their credit customers are, indeed, who they claim to be. Through database compilation, NCC generates out of wallet authentication for dealers that helps to thwart identity theft, and provide a critically important additional layer of security for credit customers.

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