X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

As one of the key requirements for meeting Regulation B’s definition of a credit scoring system, validations are an essential part of a sound lending, pricing and score card monitoring program. More credit unions are being advised that score card validations should be performed regularly by an unbiased third party. Validations always have been a requirement of Regulation B. However, due to recent economic events there is a more concerted effort by regulatory agencies to ensure validations are performed on a regular basis.

Peter Westerman

Dig Deeper

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.