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As part of its guidance, the Office of the Comptroller of the Currency recommends that lenders perform regular validations of their credit score models in order to assess model performance.

The security world was taken by surprise earlier this month when researchers discovered Heartbleed, a new large-scale threat that exploits a security vulnerability in OpenSSL.

Not surprisingly, bankcard utilization is the highest among subprime consumers with VantageScore D and F tiers having average bankcard utilization rates of 68% and 81% respectively. In comparison, VantageScore A tier (super prime) consumers had an average bankcard utilization rate of 6% and VantageScore B tier (prime) consumers had an average bankcard utilization rate of 15%. Join our panel of experts on October 23 to hear from industry experts on key regulations that are changing the way banks need to conduct business in order to grow and stay profitable. Source: Experian Oliver Wyman Market Intelligence Reports.

The cumulative effect of Basel III is expected to have a substantial impact on capital requirements. The total minimum regulatory capital will increase from 8 percent to 10.5 percent. For institutions that are considered "systematically important," an additional holding requirement may be imposed of up to 3.5 percent. Download our white paper to learn more about how your peers are reacting to Basel III and how Experian can help banks to optimize risk-weighted assets. Source: Creating value in challenging times: An innovative approach to Basel III compliance by Experian's Global Consulting Practice

The Consumer Financial Protection Bureau (CFPB) now has the ability to write and enforce 18 consumer protection laws that guide financial products and services. The new regulator has signaled the following issues as priorities: Clarity on how credit scores affect lender decisions: Beginning July 21, 2011, lenders were required to disclose the credit score that they used in all risk-based pricing notices and adverse action notices Shorter and simpler consumer disclosure forms: One of the first priorities is to make the terms and conditions associated with purchasing a mortgage or applying for a credit card shorter and clearer Enforcing the Fair Debt Collection Practices Act: The CFPB will enforce the Fair Debt Collection Practices Act and review current debt collector practices Learn more about the CFPB