Credit Card
Our “Ability to Pay” solutions mitigate risk and keep you CARD Act compliant

Businesses in the financial services industry have experienced significant change in the last several years. Both the regulatory environment and consumers (who have more control over where, when, and how they interact with card issuers and other financial institutions) have impacted how credit decisions are made. For example, under Regulation Z “Ability to Pay” guidelines, verified assets and obligations are required for borrower evaluation. And, instant pre-screen for credit is no longer valid if not accompanied by verified ability to pay. The good news:  with tighter documented loan applications comes increased investor confidence and lower risk of fraud and default.

Equifax Verification Services lets you easily determine borrowers’ "ability to pay" through income and employment verification. Instantly verify your applicant's identity, assets and ability to pay, including their ongoing risk of default. Leveraging The Work Number, Equifax provides you with a suite of solutions using "real" sources of data: the applicant’s employer, the IRS, the SSA and deposit accounts. We bundle our solutions and provide you with the information you need to qualify for quality loan manufacturing from a single user log-in.

Validating your borrower’s application, prior to lending, using independent 3rd party verified information is the new normal. Let Equifax be your trusted partner to deliver increased lending capacity, in compliance, with confidence.