ICFE Introduces Certified Credit Score Manager

Credit scores are playing an increasingly important role when it comes to making credit granting decisions. The Fair Isaac Corporation set the initial standards when they introduced the consumer’s so-called FICO score. There are many scoring models used by a variety of lenders but all use the same Fair Isaac formulas.

The different scoring models and regulations governing credit scores found in the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transactions Act of 2003 (FACTA) are the motivation behind developing a special course of study aimed at credit and lending professionals. The Institute of Consumer Financial Education (ICFE), a San Diego based public education organization, is introducing its latest certification program known as the ICFE Certified Credit Score Manager™. It is an on-line curriculum consisting of an independent study guide and a 100 question exam. It was created and developed by FutureTec, Inc., a credit research and analysis firm in Wilkes Barre, Pa.

The ICFE Certified Credit Score Manager™ (CCSM™) program has four main areas of study and testing. They are: the credit industry and its history, credit reports, credit practices for lenders and their clients and credit scores. CCSM is designed to help the credit professionals and lenders gain the knowledge and insight about this vital aspect of credit and lending. Enrollees will also learn and be examined on how the credit system functions and also its nuances. Certificants will have a full understanding of the FCRA/FACTA laws, credit reports, credit scoring practices, the Fair Debt Collection Practices Act (FDCPA) and the wide variety of applications and uses by different lenders.

Credit Score Manager applicants who complete the on-line educational study program must pass a 100 question examination by answering a minimum of 80 questions correctly to become recognized as an ICFE Certified Credit Score Manager. The program has been submitted to a variety of state licensing boards and professional associations for acceptance as Continuing Education (CE) credits.

The CCSM™ program is exclusive through the nonprofit ICFE, which also has two other important and popular certification curriculums for credit and financial services industry professionals: The ICFE Certified Credit Report Reviewer™ and the ICFE Certified Identity Theft Risk Management Specialist™. Multiple enrollment and special introductory discounts are available for a limited time.