When it comes to examining a consumer’s ability to repay, Clarity Services, Inc., the leading subprime credit reporting agency providing fraud detection and real-time credit risk management solutions, has been paving the way for the last year with Clear Ability to Pay™.

Launched in June 2015, Clear Ability to Pay™ combines Clarity’s exclusive data with Experian’s traditional credit bureau data and provides a comprehensive and unique report that helps lenders understand the financial situation of their applicants. With proposed Consumer Financial Protection Bureau (CFPB) regulations expected before summer, lenders are planning their strategy to remain compliant and meet the possible requirements for determining a consumer’s ability to repay a covered short-term loan.

“We have always made anticipating and exceeding the needs of our customers a priority,” said Tim Ranney, president and CEO of Clarity. “As a result, Clarity customers have been using this product for the last year to make more informed decisions and be prepared for what the CFPB will be requiring of them when the regulations are presented.”

Over the last year, Clarity customers have found that Clear Ability to Pay™ will make meeting CFPB requisites fast and easy given the report’s robust data. The report includes visibility into major financial obligations, reported income, borrowing history, and the unique access to both traditional and Clarity-exclusive data that comprises short-term installment loans, online loans, as well as rent-to-own.