Credit Bureaus

VP Compliance Services’ Compliance Certified Vender program is an extensive review and audit of a credit bureaus’ policies, procedures, training, background and more.  A Compliance Certified Credit Bureau is a Credit Bureau a lender can trust when looking to consummate a relationship with a Credit Bureau.

VPCS will display all Certified Credit Bureaus audit and review results.  Interested parties may reach the Credit Bureau’s certification page by clicking the VPCS Certified Vendor logo on the Credit Bureau’s website.

VPCS’ Vendor Certification program is not recommended to replace a lender’s own vendor review program.  It may be used to help select a new Credit Bureau a lender will select for consideration.

For more information on VPCS’ Vendor Certification program please contact William “Rick” Wittwer at wrw@vpcs.biz.

VPCS Vendor/Debt Buyer CertificationDescriptionComments
Date Certified Date vendor passed the certification auditRe-audited yearly
Certifications & AccreditationsDescriptionComments
Online Lenders AccreditationDetailed examination of lenders policies and proceduresCurrent
Debt Buyer's Association AccreditationDetailed review of debt buyer's policies and servicing practicesCurrent
Liens, Actions, Fines, InvestigationsDescriptionComments
Company Background CheckBackground check of company and associated companiesPassed
Principal Owners Background CheckBackground check of principalsPassed
Required LicensesDescriptionComments
Corporate RegistrationReview of state and federal corporate registrationsCurrent
State Registrations & BondsReview of state registrations and bondsComplete and current
Lending/Debt Buyer/Collections License ReviewAll required licences reviewedComplete and current
DNC Registry and unsubscribe maintenanceBased on marketing channelsCurrent and complete
Agreement Review - Vendor and Debt BuyersDescriptionComments
VendorExamined for required elements of agreementsPassed
Buy/SellExamined for required elements of agreementsPassed
Tribal FinancialExamined for required elements vs Native American Financial Services requirementsPassed
Policies and Procedure ReviewDescriptionComments
OFACPolicy Exists
Procedure(s) Exists
Adequate
Payment ProcessingPolicy Exists
Procedure(s) Exists
Adequate
BSA / AMLPolicy Exists
Procedure(s) Exists
Adequate
Fair LendingPolicy Exists
Procedure(s) Exists
Adequate
EFTA / REG EPolicy Exists
Procedure(s) Exists
Adequate
FCRA / FACTAPolicy Exists
Procedure(s) Exists
Adequate
Identity AuthenticationPolicy Exists
Procedure(s) Exists
Adequate
GLBAPolicy Exists
Procedure(s) Exists
Adequate
Privacy Policy Exists
Procedure(s) Exists
Adequate
Record RetentionPolicy Exists
Procedure(s) Exists
Adequate
SCRA / MLAPolicy Exists
Procedure(s) Exists
Adequate
UDAAPPolicy Exists
Procedure(s) Exists
Adequate
TILAPolicy Exists
Procedure(s) Exists
Adequate
UnderwritingPolicy Exists
Procedure(s) Exists
Adequate
MarketingPolicy Exists
Procedure(s) Exists
Adequate
FDCPAPolicy Exists
Procedure(s) Exists
Adequate
Vendor ManagementPolicy Exists
Procedure(s) Exists
Adequate
TCPAPolicy Exists
Procedure(s) Exists
Adequate
Information Security (GLBA)DescriptionComments
PCI ScanPerformed on all IP addressesPassed
Written Security ProgramProgram Policy Exists
Passed
Information Encryption used when transferring dataProgram Policy ExistsPassed
Network MonitoringVendor in placePassed
Firewalls installed Reviewed firewall technology and vendorPassed
Default passwords and Security Parameters updatedPolicy Exists
Procedure(s) Exists
Passed
Protection against system attacksTechnology exists
Adequate practice of testing
Restricted access to Sensitive InformationPolicy Exists
Procedure(s) Exists
Passed
Secure development of system and applicationsPolicy Exists
Passed
AuditsReviewed audit schedule and resultsPassed
Physical SecurityPolicy ExistsReviewed audits - passed
Clean Desk PolicyPolicy Exists
reviewed audit
Passed
Facility Access MonitoringPolicy Exists
reviewed audit and logs
Passed
TrainingDescriptionComments
FDCPAReview of adequacy and frequency of trainingPassed
TCPAReview of adequacy and frequency of trainingPassed
Vendor ReviewDescriptionComments
Call CenterReviewed vendor certification and audit programsPassed
Debt ResaleReviewed debt buyer certification and audit programsPassed
Ongoing Monitoring (reporting, audits, monitoring, reviews)Reviewed audit frequency and findingsPassed
On boarding (Questionnaire, Contract Review, Background checks, References)Policy Exists
Reviewed audits and frequency
Passed
Payment ProcessingDescriptionComments
Vendor AgreementReviewed agreements of TPPPs and ODFIsPassed
NACHA RequirementsReview policy vs NACHA Best PracticesPassed
Statement ReviewReviewed statements to ensure performance within required threshholdPassed
Compliance Management ProgramDescriptionComments
OversightReviewed organizational structure, authority, and personnel Passed
MonitoringReviewed monitoring programs for adequacy and frequencyPassed
TrainingReviewed training programsPassed
Complaint ManagementReviewed program, system to manage, and inability to editPassed
Written Policies and ProceduresPolicy Exists
Procedure(s) Exists
Passed
Public Internet SearchDescriptionComments
Vendor Name/KeywordPerformed searches and examined all postsAcceptable results
CFPB Complaint DatabaseExamined CFPB complaints, resolutions, and response timingPassed

For more information on how our services can benefit your organization contact us at (877) 350-9933 X5 or wrw@vpcs.biz