Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
TransUnion has multiple income models for ability-to-pay
CHICAGO (2/8/10)--With less than two weeks left before provisions of the Credit Card Accountability, Responsibility and Disclosures (CARD) Act go into effect, TransUnion reminds its clients that it offers two models--the Income Estimator and Debt-to-Income Estimator--to predict a consumer’s ability to pay as required under the act. The final rule states that card issuers may use empirically derived, demonstrably and statistically sound models that reasonably estimate a consumer’s income or assets to assess ability to pay. Reasonable policies and procedures to consider ability-to-pay include the ratio of debt obligations to income; the ratio of debt obligations to assets; or the income the consumer will have after paying debt obligations. The Income Estimator can help credit unions:
* Estimate income when it is not supplied by the consumer and validate consumer-supplied data and previously captured consumer income; * Reassess existing customer income and ability to pay in an account management environment; and * Segment the optimal populations for which consumer income or consumer proof of income should be requested.
The Debt-to-Income Estimator provides an estimate of the ratio of debt obligations to income and can be used to consider ability-to-pay, TransUnion said. Both models are available for batch and online delivery or as a credit report add-in. TransUnion is a provider of credit and information management headquartered in Chicago.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
23 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 Day ago