The CL Verify PDA Report provides lenders with a complete and accurate view of a potential consumer’s payday advance and inquiry history. FCRA-compliant and delivered in real time, the report identifies high risk inquiry and loan activity, thereby decreasing loan default rates and maximizing profitability for the lender.
PDA Report Features
The PDA Report serves as a powerful fraud detection tool by providing access to data from hundreds of Internet and store-front payday advance lenders. Using an applicant’s social security number, CL Verify tracks a consumer’s payday advance activity, as well as historical information on bank accounts previously used to acquire a payday advance. The PDA Report includes:
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30-day advance history, including number of payday advances and inquiries |
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Status of accounts (open, in collection, charged-off, or discharged) |
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Number of accounts that have activated skip-traces |
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Invalid, unissued, or deceased SSN determination |
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Bankruptcy flags by SSN |
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Identity theft flags by SSN |
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