Aimbridge Indirect Lending Helps Credit Unions Comply with USA PATRIOT Act.Business Editors DENVER--(BUSINESS WIRE)--Jan. 29, 2003 Division Integrates TransUnion's Total ID(SM) and OFAC OFAC Office of Foreign Assets Control (US Treasury) OFAC Ontario Farm Animal Council (Canada) OFAC Olmsted Falls Airport Committee OFAC Organic Fertilizer Association of California Advisor to Loan Application Tracking System Aimbridge Indirect Lending, (formerly Credit Union Member Lending), announced that its credit union automobile loan application tracking system, now helps credit unions better comply with the USA PATRIOT Act USA PATRIOT Act [Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorists], 2001, U.S. . Aimbridge Indirect Lending, a division of The Aimbridge Group, is a financing channel that connects credit unions with an automotive dealer network to provide members and potential members with auto loans, leases and balloon notes. To help credit unions comply with the Act, Aimbridge Indirect Lending collaborated with TransUnion, a global information solutions company, to integrate into its system TransUnion's Total ID, a fraud detection service, and TransUnion OFAC Advisor, a screening solution. Total ID facilitates identity verification Noun 1. identity verification - the automatic identification of living individuals by using their physiological and behavioral characteristics; "negative identification can only be accomplished through biometric identification"; "if a pin or password is lost or and provides application analysis to process any borrower who is not a credit union member at the time the loan application is submitted. It allows the company to check for pertinent identification such as name, social security number, date of birth and address. OFAC Advisor allows for a simple, automatic check against the Office of Foreign Assess Control (OFAC) list. These tools are now part of Aimbridge Indirect Lending's Fraud Protection Program requirements, which verifies the non-member against the USA PATRIOT Act. "This system not only helps credit unions comply with the USA PATRIOT Act, it also helps credit unions conduct an enhanced screening of member applicants for enhanced accuracy and fraud detection," said Steve Bentley, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Aimbridge Group. "Aimbridge systems go above and beyond the law requirements to ensure fraudulent applications are diminished. We want to give our credit unions the tools to ensure their members are who they say they are." Credit unions are able to view the report on all non-member applicants through the Aimbridge B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business website. An icon is placed next to the applicant's name on the application summary screen. By clicking the button, credit union employees can view the report. For all non-members processed through Total ID that meet the USA PATRIOT Act and Fraud Protection Program requirements, the credit union can obtain a printable print·a·ble adj. 1. Capable of being printed or of producing a print: printable negatives. 2. Fit for publication: printable language. form from the Ambridge B2B Web site See vertical portal. known as CUML Connect displaying the clearance to be included in the new member file. "We continue to stand behind our credit unions to do everything possible to bring an end to any fraudulent application activity that can and does happen in the world today," Bentley added. "We pride ourselves on helping credit unions drive new membership through indirect lending, and this product will protect credit unions from identity fraud during this process." Signed into law on October 26, 2001, the USA PATRIOT Act (PL 107-296) requires financial institutions to implement reasonable procedures to verify the identity of any person seeking to open an account as well as maintain records of the information used to verify the person's identity and determine whether the person appears on any list of terrorists provided to the financial institution by any government agency. About The Aimbridge Group The Aimbridge Group is comprised of five divisions, including Aimbridge Indirect Lending, Aimbridge Leasing, Aimbridge Home Loan, Aimbridge Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and Aimbridge Automotive Group. While the company is headquartered in Denver, it has remote offices in Austin, Texas; Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. ; St. Louis, Mo.; Pequannock, NJ; Chicago, Ill.; Charleston, S.C. and Jacksonville, Tampa, Orlando and Miami in Florida. For additional information, write Aimbridge Indirect Lending, 4610 S. Ulster Ulster, northernmost of the historic provinces of Ireland. Modern Ulster consists of nine counties. Six (Antrim, Armagh, Down, Fermanagh, Derry, and Tyrone) now make up Northern Ireland (see Ireland, Northern), which is often referred to as Ulster; the remaining St., Suite 300, Denver, Colorado 80237 or contact Andrea Harris at 303-306-3231. Visit its Web site at www.aimbridge.com. |
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