LAKE SUCCESS, N.Y. July 26, 2011 July 21, 2011 July 20
The Dodd-Frank Act further extends the necessary credit score disclosure information required in Adverse Action Notices. Under the Dodd-Frank Act, businesses that use credit scores to make a credit decision must provide the credit score used, the primary reasons affecting the score, and the range of possible credit scores for the model used, among other information, within the Adverse Action Notices.
The DealerTrack Compliance solution, which is the most comprehensive suite of compliance tools available in the automotive retail market, helps protect a dealership throughout the sales and F&I process, including credit reports, credit application submissions, menu presentations, and document storage and retrieval, as well as compliance with the Red Flags Rule, the Risk-Based Pricing Rule and Dodd-Frank Act requirements. The DealerTrack solution allows dealers to work all deals on one fully integrated and secure platform to streamline the process and protect their dealership and its customers.
About DealerTrack ( www.dealertrack.com )
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding updated functionality to the DealerTrack Performance Suite and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
December 31, 2010 www.dealertrack.com
SOURCE DealerTrack Holdings, Inc.