ProMax Unlimited Compliance

Products ProMax UnlimitedCompliance

 

ProMax Unlimited integrates compliance into your sales process.

The compliance review screen gives managers control over compliance issues for every prospect and customer, helping you avoid costly fines and penalties.

Red Flags

Your dealership was required to implement an Identity Theft Prevention Program.  The program requirements include the development a Compliance Manual and ensure implementation of all requirements therein. When you use the ProMax Unlimited Red Flag Rules solution you will receive a template of a Compliance Manual including the Risk Assessment Process developed for our own dealership for you to individualize as necessary.

Then, when a credit bureau report is pulled using ProMas Unlimited the consumer’s Red Flag “Score” will be accessed. 

If the Red Flag “Score” indicates dealership action is required to confirm the consumer’s identity pursuant a message will pop-up in ProCredit Express informing you further investigation regarding the consumer’s identity is required, at which time you can initiate access to the Red Flag Exam which consists of  four “out of wallet” questions.  The exam results will then be returned through the ProMax Unlimited system.  Any required Incident Report can then be completed and stored in ProMax Unlimited for annual reports and audits.

ADVERSE ACTION

Under the law a dealership is considered a lender and is required to provide adverse action notices to consumers under certain conditions.  You can also easily identify consumers to whom you have denied credit. Then you can print and mail the required Adverse Action letter directly from ProMax Unlimited. Do not accept that the Adverse Action notice your indirect lenders provide to the consumer will mean you are in compliance.

OFAC  

Your dealership is required to screen all of your customers against the current OFAC list, whether they are financing, leasing or paying cash for their vehicles.  Each consumer who is entered ProMax Unlimited database will be screened against the current OFAC list. If a match or a partial match occurs ProCredit express will prompt your personnel through the required action steps.  

Credit Application and Permission to Pull Credit Report

Have the consumer sign a credit application you print from ProMax Unlimited which includes permission to pull a credit report

Privacy Notice

You may print a Privacy Notice from ProMax Unlimited to present to each consumer from whom you take an application for credit in compliance with the Gramm-Leach-Bliley Act. 

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