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Worth AI and Equifax Enter Strategic Relationship to Help Improve Underwriting and Risk Management for Small Businesses

Retrieved on:

Friday, April 5, 2024

Health, SMB, Database, Worth, Risk, Small business, Statistics, FCRA

ORLANDO, Fla., April 5, 2024 /PRNewswire/ -- Worth AI, a newly launched, AI-powered risk management platform, led by unicorn founders Sal Rehmetullah and Suneera Madhani, today announced a strategic relationship with Equifax to provide underwriting solutions that help small businesses secure the capital, and financial services they need. As part of the agreement, Worth AI will augment its expansive data capabilities with access to differentiated data from Equifax, including business firmographics, business credit attributes and business principal information on millions of U.S. businesses.

Key Points:

"At Worth AI, our goal is to foster strategic partnerships with esteemed companies like Equifax, a global leader in data and analytics, to revolutionize how small businesses operate," said Suneera Madhani, Founder and co-CEO of Worth AI.
Worth AI aims to improve loan and credit approval rates by leveraging transparent AI technology to expand the factors used to calculate a business credit score: The Worth Score®.
The Worth AI Platform uses fair and transparent AI to minimize risk and maximize credit opportunities with over 40 million SMB's records already in their database.
"We are so pleased to launch Worth AI and announce our strategic relationship with Equifax," said Sal Rehmetullah, Founder and co-CEO, Worth AI.

myFICO: 5 Tips to Help You Manage Multiple Credit Cards and Protect Your FICO® Scores

Retrieved on:

Tuesday, April 2, 2024

Professional Services, Payments, Technology, Finance, Banking, Personal Finance, Wind, Risk, TransUnion, APR, Eye, Smartphone, Scores, FCRA, FICO, Credit

The average American has 3.84 credit cards according to Experian data, and some credit card rewards enthusiasts have many more.

Key Points:

The average American has 3.84 credit cards according to Experian data, and some credit card rewards enthusiasts have many more.
Below are five helpful tips from myFICO to help you use multiple credit cards like a pro.
One of the first steps to managing multiple credit cards, indeed to managing your finances in general, is to create a budget .
Yet when you have multiple credit cards, monitoring your credit health may be even more critical than usual.

Potter Handy Law Firm Takes on Class Action Lawsuit Against Select Source for Violation of Fair Credit Reporting Act and Labor Code

Retrieved on:

Wednesday, April 3, 2024

Class Action Lawsuit, Professional Services, Legal, Consumer, Employment, Plaintiff, Left–right political spectrum, LLP, Crime, Record, Judgement, Complaint, Superior court, FCRA, Private investigator

Potter Handy, renowned for its expertise in employment law and class action lawsuits, has filed a class action lawsuit against Select Source International (Select Source) on behalf of Plaintiffs Eugene Howard, Robert Williams, and other affected individuals.

Key Points:

Potter Handy, renowned for its expertise in employment law and class action lawsuits, has filed a class action lawsuit against Select Source International (Select Source) on behalf of Plaintiffs Eugene Howard, Robert Williams, and other affected individuals.
The suit alleges that Select Source willfully violated the Fair Credit Reporting Act (FCRA), the Investigative Consumer Reporting Agencies Act (ICRAA), and Labor Code Section 432.7 for using expunged cases in employment decisions.
Potter Handy Law Firm is determined to hold Select Source accountable for its willful violation of these laws.
About Potter Handy Law Firm:
Potter Handy, LLP is a leading law firm due to its extraordinary record of precedent-setting cases.

Greenberg Traurig Continues to Expand Financial Regulatory & Compliance Practice

Retrieved on:

Monday, March 11, 2024

TILA, Heel, Knowledge, Consumer Protection Act, LLP, RESPA, Martínez, Disclosure, Fair debt collection, Ballard Spahr, FCRA, FDCPA, Audit

WASHINGTON, March 11, 2024 /PRNewswire-PRWeb/ -- Global law firm Greenberg Traurig, LLP continues to expand its Financial Regulatory & Compliance Practice with the addition of Rinaldo Martinez as of counsel in the firm's Washington, D.C., office. Martinez joins the firm from Ballard Spahr, bringing with him over a decade of experience counseling financial services and fintech companies on regulatory compliance matters.

Key Points:

Global law firm Greenberg Traurig, LLP continues to expand its Financial Regulatory & Compliance Practice with the addition of Rinaldo Martinez as of counsel in the firm's Washington, D.C., office.
WASHINGTON, March 11, 2024 /PRNewswire-PRWeb/ -- Global law firm Greenberg Traurig, LLP continues to expand its Financial Regulatory & Compliance Practice with the addition of Rinaldo Martinez as of counsel in the firm's Washington, D.C. , office.
Martinez's move to Greenberg Traurig is part of the firm's strategic expansion of its global Financial Regulatory & Compliance Practice.
"We are thrilled to welcome Rinaldo to our growing practice," said Marina Olman-Pal , co-chair of the firm's Financial Regulatory & Compliance Practice.

FTC Releases 2023 Privacy and Data Security Update

Retrieved on:

Tuesday, April 2, 2024

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FTC Releases 2023 Privacy and Data Security Update

Retrieved on:

Tuesday, April 2, 2024

The Federal Trade Commission released its Privacy and Data Security Update for 2023 that highlights the FTC’s work to protect consumer privacy and respond to the evolving ways that companies use consumer data such as in the development of artificial intelligence models and misuse of health data.

Key Points:

The Federal Trade Commission released its Privacy and Data Security Update for 2023 that highlights the FTC’s work to protect consumer privacy and respond to the evolving ways that companies use consumer data such as in the development of artificial intelligence models and misuse of health data.
Between 2021 and 2023, the FTC has taken action to address privacy and security threats in several key areas including:

The FTC also has remained active in targeting companies that fail to implement reasonable data security measures to protect consumer data.
In 2022 and 2023 alone, the FTC announced or finalized enforcement actions against Global Tel*Link, Drizly, Chegg, and CafePress for data security failures.
In addition to vigorous enforcement, the FTC has engaged in rulemaking and other policy work to establish baseline standards that protect consumers’ privacy.

Lenders One Brings Together Its Members and Providers to Help Members Increase Profitability During Challenging Markets

Retrieved on:

Monday, March 4, 2024

CRA, Reseller, Cooperative, FICO, Friction, Risk management, L1, Creditor, Fraud, Sale, FCRA, SSV, Warehouse management system, AIM, Risk, Quality control, NFIP, Summit, Freddie Mac, ASPS, Fair Credit Reporting Act, Insurance, VOE, UDN, Capital market, VOI, VOA, Environment, CMB, Bank

The addition of these members amid the challenging mortgage origination environment is a testament to the Lenders One team and offerings.

Key Points:

The addition of these members amid the challenging mortgage origination environment is a testament to the Lenders One team and offerings.
Today, Lenders One offers its members a variety of direct, capital markets and national programs solutions, to help its members better compete.
More recently, Lenders One launched and refined some of its direct solutions to enhance the value proposition for its members:
L1 Credit and Resellers.
In addition to its direct solutions, Lenders One has a suite of Capital Market and National Program solutions to help the members better compete.

Nova Credit Partners with SafeRent Solutions, Further Expanding Income Navigator Solution in the Property Management Sector

Retrieved on:

Wednesday, February 21, 2024

Finance, Business, Banking, Accounting, Professional Services, Tenant, Credit, FCRA, Learning, Risk, National Apartment Association, Insurance, Partnership, Property management

To address this, many are incorporating income verification into their tenant screening process to guarantee that potential renters possess a stable and adequate income for meeting rental obligations.

Key Points:

To address this, many are incorporating income verification into their tenant screening process to guarantee that potential renters possess a stable and adequate income for meeting rental obligations.
Nova Credit’s Income Navigator solution works to accelerate the screening of potential candidates while reducing fraud by using data that is straight from the source and advanced document-scanning technology.
Now, as a part of SafeRent’s comprehensive resident screening reports and solutions, property managers who use SafeRent can perform fast, wide-coverage, FCRA-compliant income verifications seamlessly within the tenant screening process.
We are excited to have found that solution in our partner, Nova Credit,” said Blanca Esparza of SafeRent.

Unmasking Online Shadows: Corra Group's Upgraded Social Media Background Checks Helps Clients Protect Their Brand Reputation

Retrieved on:

Thursday, February 22, 2024

Social media, FCRA, Risk, Behavior, Organization, Employment, Organizational founder, Management

EL SEGUNDO, Calif., Feb. 22, 2024 /PRNewswire-PRWeb/ -- Corra Group, a leading provider of background screening services, is excited to announce its latest offering in the world of employment screening and background checks: FCRA compliant Social Media Background Screening. This service provides clients with deeper insights into the online activities and behaviors of job candidates, ensuring they hire individuals who align with their employee code of conduct and organizational values.

Key Points:

EL SEGUNDO, Calif., Feb. 22, 2024 /PRNewswire-PRWeb/ -- Corra Group, a leading provider of background screening services, is excited to announce its latest offering in the world of employment screening and background checks: FCRA compliant Social Media Background Screening .
"An ongoing, annual review of employees' online presence to track changes also helps create a safe and secure workplace."
The Social Media Background Screening service from Corra Group complements its existing suite of comprehensive employment screening services, including criminal background checks , education verification , employment verification , and motor vehicle records .
Corra Group is a full-service background screening company that provides background checks and employment screening to clients throughout the United States and around the world.

Read these 2023 FTC best sellers to be a better seller in 2024

Retrieved on:

Tuesday, February 13, 2024

Read these 2023 FTC best sellers to be a better seller in 2024 Technically we can’t categorize these notable FTC staff publications of 2023 as “best sellers” because they’re available at no charge.

Key Points:

Read these 2023 FTC best sellers to be a better seller in 2024

Technically we can’t categorize these notable FTC staff publications of 2023 as “best sellers” because they’re available at no charge.
To count yourself among the better sellers of 2024, consider guidance from these titles published or updated in 2023.
It’s the responsibility of the business to provide that notice clearly and to honor consumers’ choices within 10 business days.

Before the Rule’s July 30, 2024, effective date, read the new compliance guide to learn more about what the CARS Rule means for dealers and prospective car buyers.
Informing Businesses about the INFORM Consumers Act and What Third Party Sellers Need to Know About the INFORM Consumers Act.
But if you’re looking for an introduction to what the new law means for your business, these two FTC publications are a good place to start.
Another important observation: For younger kids in particular, disclosures are unlikely to be effective.

The tactics of crooks who target small businesses morph with the marketplace.
That’s why the FTC has published this guide for businesses in English, Spanish, Simplified Chinese, Korean, and Vietnamese. (Also check out ftc.gov/languages for new consumer resources in multiple languages.)
2023 has been an important year in health privacy and this revised FTC-HHS guide has advice to help your company comply with the law.

Franchise Fundamentals blog series.
If you’re thinking about buying a franchise, don’t make a move without considering the advice in the FTC’s five-part Franchise Fundamentals series.
June 2023 was a trifecta for businesses that use endorsements in their marketing.