REGULATORY COMPLIANCE SYSTEM AND METHODOLOGY FOR PAYDAY LOANS TO MILITARY SERVICE MEMBERS AND THEIR DEPENDENTS
First Claim
1. A computer-implemented method for credit transaction legal compliance, said method comprising:
- creating a user account for a user;
providing a source of law data applicable to credit transactions by the user;
determining if the user is a covered member;
receiving credit transaction data for a transaction by the user;
automatically comparing the credit transaction data for the transaction by the user with the law data applicable to the credit transaction by the user;
determining whether the credit transaction data for the transaction by the user complies with the law data applicable to the credit transaction by the user; and
transmitting a response to the user indicating the compliance status of the transaction.
1 Assignment
0 Petitions
Accused Products
Abstract
A computer-implemented method for credit transaction legal compliance includes creating a user account for a user; providing a source of law data applicable to credit transactions by the user; receiving credit transaction data for a transaction by the user; automatically comparing the credit transaction data for the transaction by the user with the law data applicable to the credit transaction by the user; and determining whether the credit transaction data for the transaction by the user complies with the law data applicable to the credit transaction by the user. A computer-implemented system for credit transaction legal compliance includes a module for creating a user account for a user; a module for providing a source of law data applicable to credit transactions by the user; a module for receiving credit transaction data for a transaction by the user; a module for automatically comparing the credit transaction data for the transaction by the user with the law data applicable to the credit transaction by the user; and a module for determining whether the credit transaction data for the transaction by the user complies with the law data applicable to the credit transaction by the user. The system and method determine if a borrower is a covered member under laws and regulations protecting active military personnel and their spouses and dependents.
34 Citations
20 Claims
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1. A computer-implemented method for credit transaction legal compliance, said method comprising:
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creating a user account for a user; providing a source of law data applicable to credit transactions by the user; determining if the user is a covered member; receiving credit transaction data for a transaction by the user; automatically comparing the credit transaction data for the transaction by the user with the law data applicable to the credit transaction by the user; determining whether the credit transaction data for the transaction by the user complies with the law data applicable to the credit transaction by the user; and transmitting a response to the user indicating the compliance status of the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification