Press Release 02/17/2012

CLEARWATER, FL – February 17, 2012 – Clarity Services, Inc., a leading real-time credit bureau addressing fraud detection and credit risk management solutions for the under-banked, non-prime consumer segment, announced today its newest service, Clear Adverse Action Notification, to become available March 1st. The new service will assist lenders and credit-based service providers in meeting stringent adverse action notification compliance requirements.

Clarity Services’ Clear Adverse Action Notification service expedites the delivery and proper handling of adverse action notices that are required after a credit application has been denied. By mandate of the Equal Credit Opportunity Act (ECOA) and Fair Credit Reporting Act (FCRA), lenders and other credit-based businesses must notify applicants of the reasons they are denied credit. The notification must include the name, address, and phone number of the credit bureau who provided the credit report. For those lenders and businesses that depend on Clarity products to make lending decisions, the adverse action notification process just became easier.

“Clarity has always taken a proactive approach to addressing lender needs,” said Tim Ranney, founder and president of Clarity Services, Inc. “In our discussions with the Consumer Financial Protection Bureau, it was our impression that one of the primary areas of the Bureau’s concern is ECOA and FCRA compliance. As a result, we are ready to help lenders directly address those areas” concluded Ranney.

The new service, slated for availability in early March, will automate the notification to denied applicants and include the name of the lender making the denial, the date of the denial, contact information, and clear descriptions of the denial reasons. And, as mandated by FCRA laws, applicants will be provided with Clarity’s contact information. The service will also automate the required credit file disclosure which will further expedite and improve the process.

“This service assures that lenders and businesses stay in compliance with the terms of the adverse action policies,” said Ranney. “Even if a consumer applies for a loan through a lead generator, a letter outlining each lender that reviewed the application and in turn denied them, will be included in the notification.”

The new Clear Adverse Action Notification process not only benefits those lenders who enroll in the service but also benefits consumers by providing more accurate data, eliminates the mail-in request for their Clarity Credit Report, and gives them faster visibility as to their credit standing.

Clear Adverse Action Notification will be available March 1, 2012 exclusively from Clarity Services, Inc. and lenders and businesses may call (727) 489-7266 for more information.

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