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OFAC Verification & Credit Compliance

Comply With Regulations
Avoid Losses and Buybacks

A simple and complete credit compliance platform so you can focus on sales.

Get access to some of our protections:

  • Identity Verification
  • OFAC Screening
  • Synthetic ID Fraud
  • Military Lending Act (MLA)

Contact us for a complimentary compliance assessment >

National Credit Center is a one-stop shop for all of your verification and credit compliance services, helping you to comply with all applicable regulations while avoiding losses and buybacks that can be costly to your reputation and your bottom line.

Why Choose National Credit Center?

Ease of Use

Our systems are simple to use, providing an instant screen for Red Flags and OFAC verification, protecting your business from engaging in transactions that contravene U.S. sanctions, regulations and laws – keeping you legally and financially compliant.

 

Our system will automatically generate a Credit Score Disclosure Notice and Privacy Notice with every credit report, allowing you to comply with the Risk-Based Pricing Rule. It will also auto-generate an Adverse Action Notice for consumers who do not qualify for financing, thereby complying with FCRA and ECOA regulations.

 

Effective

Our ID verification software offers modern, accurate and efficient solutions to identify and guard against fraudulent activity, screening all applicants against the information that is held by all relevant bureaus and presenting you with the information you need to make informed decisions quickly and efficiently.

Compliant

Our systems and services are fully compliant with all OFAC screening requirements and satisfy all applicable regulatory requirements, including Anti Money Laundering and Fraud Prevention. Our out-of-wallet authentication service is an effective layer of additional security, increasing your peace of mind and allowing you to make lending decisions quickly.

Fraud Prevention

Our synthetic ID fraud screen will protect your business from the increasing risk of fabricated identities. NCC can also automatically verify borrowers who are covered by the Military Lending Act (MLA) and are entitled to more favorable loan rates and against whom lenders are prohibited from enacting mandatory arbitration in the event of disputes.

Secure

Our electronic document storage solution allows you to securely store all information that is generated, enabling you to respond effectively and proactively in the event of an audit.

Good Value

National Credit Center will protect you from fraudulent activity, chargebacks and buybacks, saving you money in the long term. Our simple subscription-based service allows you to easily budget for all of your credit compliance and ID verification needs, allowing you to reduce your operational overhead and simplify your administrative function.

Fraud
Screen

Verify identities and authenticate consumers against Red Flags.

Identity
Authentication

Out-of-wallet authentication provides additional security.

OFAC
Screen

Screen against the Office of Foreign Assets Control list.

Synthetic ID
Fraud Screen

Stay protected against the increasing risk of fabricated identities.

MLA
Screen

Verify which consumers are covered to comply with MLA Final Rule.

Electronic
Document Storage

Securely store your information to respond effectively to any audit.

Credit Score Disclosure Notice
Provided with every credit report to comply with the Risk-Based Pricing Rule.

Privacy
Notice

Automatic creation and inclusion of Privacy Notice with every credit report.

Adverse
Action Notice

Notify consumers who do not qualify for financing to comply with FCRA and ECOA.

LESS FRAUD

Less Identity Fraud
and Chargebacks

LOWER COST

Reduction in
Operational Overhead

ALWAYS COMPLIANT

Compliant With
Regulations

How National Credit Center Can Help With OFAC Compliance

Lenders are obligated to perform OFAC screenings on any consumers who need financing to purchase a vehicle. This involves screening all consumers against the lists held by the Office of Foreign Assets Control (OFAC) to ensure that money is not inadvertently loaned to any sanctioned individuals.

 

Car dealer OFAC compliance screenings and OFAC verification involves using ID verification software, such as that supplied by National Credit Center, to verify the identity of potential customers and ensure they are not on an OFAC list of sanctioned individuals who cannot be loaned money by U.S. businesses. Loaning money to sanctioned individuals can result in severe penalties, including legal action and heavy fines.

 

A key component of car dealer OFAC compliance is maintaining records related to OFAC screenings that have been carried out by the business. National Credit Center’s credit compliance solutions software securely stores all electronic documentation for auditing purposes, ensuring compliance with these regulations.

Our Unique ID Verification Software Can Save Your Business Time And Money

Not only will National Credit Center’s systems allow you to comply with all OFAC screening requirements, providing OFAC verification and helping you adhere to all regulatory requirements, but our wider credit compliance offerings will support you in embedding and following best practices in all credit and lending activities.

Our systems will help you maintain fair and transparent lending practices that can increase consumer confidence and their desire to seek financing from your business. By demonstrating that your lending practices are unbiased and free from discrimination, you will attract a wider cross-section of the population to your business. 

While performing ID verification to comply with OFAC screening requirements, you will also obtain useful credit history and credit score information about applicants that will inform the terms, costs and conditions of any lending that you wish to offer. Our platform ensures that the evidence supporting your decision is provided automatically, thereby complying with disclosure requirements and Truth In Lending laws.

Our secure systems comply with all data protection and privacy laws, effectively safeguarding customer information that is carried out for new finance applicants. 

By ensuring that your business remains compliant with all applicable laws and regulations, you will be protected against legal penalties, fines, reputational damage and loss of business. 

better service starts here

Learn how companies use National Credit Center to build stronger relationships with their customers and change the way they do business.
Luke Galdi
NCC never lets us down. Credit pulls always work fast and easy. Tie that with great pricing and customer service, and you have a win-win for everyone. Thank You NCC.
Luke Galdi
IT Director Parker Toyota, Parker Subaru, Parker Ford
Darren Hasley
NCC is our credit report provider, as we typically manage a combination of 1,200 lease vehicle sale transactions a month. Our experience with NCC is fantastic.
Darren Hasley
CIO D&M Leasing, Dallas/Ft. Worth/Houston
Jim Hawrys
Working with NCC has been a great experience. Pulling credit reports with NCC is easy and their customer support team provides excellent service.
Jim Hawrys
Business Manager, Genesis Chevrolet