Credit Pulled when PIF??

[kromero]

My wife bought a car today went down with a check from her CU. When she was signing the papers the finance guy said they had to run her credit due to the patriot act to identify her. Is that normal? I said if they had to I would only want them to run TU so I could get it off eventually. 2007 Toyota Prius. For those curious minds.

[MarvBear]

Dealers are in essence veiwed as financial institutions. They are required to check the OFAC database. If they don't have any other solution to check the consumer's name against the database, then they may deem it necessary to actually pull the consumer credit file as our data subscriber reports have built in matching for the OFAC database.

 

from Equifax

 

********************************************************************************
COMPLIANCE DATA CENTER, INC.

*NO MATCH FOUND IN CDC'S OFAC DATABASE.

*   END OF REPORT, COMPLIANCE DATA CENTER, INC.

********************************************************************************

[kromero]

Dealers are in essence veiwed as financial institutions. They are required to check the OFAC database. If they don't have any other solution to check the consumer's name against the database, then they may deem it necessary to actually pull the consumer credit file as our data subscriber reports have built in matching for the OFAC database.

 

from Equifax

 

********************************************************************************
COMPLIANCE DATA CENTER, INC.

*NO MATCH FOUND IN CDC'S OFAC DATABASE.

*   END OF REPORT, COMPLIANCE DATA CENTER, INC.

********************************************************************************

 

So, there are other ways to do it? What I was told was they needed it for DMV. For future refernces what are the other ways they could have referenced her to this OFAC database?

[MarvBear]

There are several web based solutions available from the big 3 credit repositories or other sources that have the most up to date information regarding the OFAC database. A dealer would need to susbscribe to them though.

 

Additionally some states may require the consumer's social security number on portions of the DMV paperwork.

 

http://bridgerinsight.choicepoint.com/