Stay in compliance with every transaction and avoid costly fines
Farmington Hills, Michigan – March 1, 2022 –
700 Credit, LLC, the automotive industry’s leading provider of credit reports, compliance solutions and soft pull products, has announced the launch of the new Learning Management System (LMS), a training platform that will help ensure dealership’s personnel are well trained and have best practices in place for adhering to government compliance regulations. We’re delivering a robust web-based, self-paced LMS that will provide the required training dealerships need to remain compliant with every transaction and importantly, to help avoid costly fines or worse – lawsuits.
This new Learning Management platform is the result of an alliance with ComplyNet, the automotive industry leader in end-to-end compliance management solutions. ComplyNet combines intuitive software with auditing services to assist dealerships in achieving regulatory compliance goals, mitigating risks, and retaining talent. 700Credit has tightly integrated relevant components of the ComplyNet platform into our 700Dealer.com portal for compliance training requirements.
“Dealers today are faced with several concerns around being in compliance with federal regulations, of a potential audit, or being fined around the accessing and handling of customer’s sensitive credit data,” stated Ken Hill, Managing Director of 700Credit. “Dealers also need to be continuously updated on regulation changes happening in the industry. For example the impact that the latest Dealer Safeguards ruling will have on business. As the largest provider of credit reports to dealers from all three bureaus – Experian, Equifax and TransUnion – 700Credit has always prioritized a comprehensive and mechanized compliance solution for dealerships. Our new LMS platform takes another important step by providing dealership employees a more thorough education on these requirements with the toolsets to get them there.”
“We are proud to partner with 700Credit to guide dealerships to a culture of compliance in an environment that is both collaborative and creative,” states Adam Crowell, President & General Counsel of ComplyNet. “Our platform within 700Credit’s dealer portal will enable dealerships to access a full-service compliance solution that complements their regulatory training and reporting objectives.”
700Credit is the automotive industry’s leading provider of credit reports, compliance and soft pull products. The company’s product and service offerings include credit reports, prescreen and pre-qualification platforms, compliance training, OFAC compliance, Red Flag solutions, MLA, Synthetic Fraud Detection, Identity Verification, score disclosure notices, adverse action notices and more. 700Credit’s goal is to provide its clients with the highest quality data in a compliant framework in the most efficient manner possible. For more information about 700Credit, visit www.700credit.com.
Founded in 1994, ComplyNet is the automotive industry leader in end-to-end compliance and risk mitigation solutions, with expertise in the areas of Environmental Health and Safety (EHS), Sales and Finance (F&I), Privacy and Safeguards, and Human Resources (HR). ComplyNet combines intuitive software with auditing services to assist dealerships in achieving regulatory compliance goals, mitigating risks, and retaining talent. For more information, visit www.complynet.com or call 800-653-1869.