Accepted for 5 CEs by the AFCPE - New for 2015
The ICFE's CCSS™ program is the nation’s only comprehensive training and certification specifically developed for credit industry professionals who are dedicated to educating and assisting consumers, clients, customers, businesses, and the general public in credit reporting, credit scoring and how to maintain a high score. With the birth, in 2012, of the Consumer Financial Protection Bureau (CFPB) which took over the enforcement of the FCRA/FACTA laws from the FTC. The CFBP is monitoring credit scoring and examining differenCEUs in credit scores purchased by consumers and those purchased by creditors, for example. This CCSS™ program is designed to enlighten participants to the side of credit scoring not often seen by the public.
CCSS™ qualified professionals are employed by a wide range of organizations including consumer credit and debt counseling organizations, credit unions and other financial institutions, student loan lenders, cooperative extension system, all branches of the military, mortgage, real estate, and financial services firms; law enforcement, and other government agencies. Many others are private practitioners including notary public, attorneys, security consultants, CPAs, CFPs, and consumer educators.
The growth of the consumer credit has been explosive. Americans are still getting all charged-up with their plastic. Individual credit files continue to grow, many times into more than three dozen pages. Credit scoring is based in large part on these credit files and their accuracy is paramount to obtaining the highest credit scores possible. This area of growing concern to consumers and business owners alike is one that is often overlooked by their well meaning financial and business advisors, until now.
ICFE Certified Credit Scoring Specialists (CCSS™) learn what the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transaction Act (FACTA) have to say about credit scoring. They have learned how credit reports are structured by the credit reporting agencies. They have also learned about the history of credit scoring and the different credit model used by lenders. This important aspect in the training is about how credit scoring models are created.
More people are now becoming aware of the importance of looking at their credit files, especially because of recent headline news stories about the effects of credit scoring which often results in lower credit costs.
Studies have also shown that credit history is a powerful predictor of future auto insurance losses. Many insurance companies consider certain credit characteristics in addition to many other factors when determining an individual's rate.
ICFE CCSS™ provide a valuable service by helping to educate their individual clients and small business owners on the importance of maintaining a good rating, high credit scores and protect their personal information from criminals.
What are the CCSS's course learning goals and objectives?
1. Identify methods of access to credit reports, free and otherwise.
2. List common credit terms and define key credit differenCEUs.
3. Identify information used in calculating credit scores.
4. Recognize how consumer behaviors affect credit scores.
5. Review a credit report for mistakes and missing information.
6. Identify methods for credit file correction of mistakes and missing information.
7. How to report inaccurate information on a report to CRAs.
8. List the components of a credit score.
9. Recognize the impact of consumer behavior on credit files.
10. Identify methods consumers can use to improve their credit score.
11. Recognize privacy laws and their impact on credit lenders and borrowers.
12. Identify potential identity theft using a credit report and information provided in a credit application.
13. Review the Consumer Financial Protection Bureau and the Federal Trade Commission Resources for consumers.
14. Communicate key components of credit reports to consumers.
15. How to use the legal system to effect changes on a credit report.