ICFE introduces Certified Credit Score Manager'
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ICFE introduces Certified Credit Score Manager'

San Diego, CA. - Credit scores are playing an increasingly more 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) is 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.

Importantly, one of the areas of learning in the CCSM program are adverse actions, steps taken by a borrower might cause a credit score to decline or be temporarily depressed, and how to reverse the adverse action, thereby increasing the credit scores, a vital aspect of credit score management.

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. The test has a bank of over 200 questions and each test has the questions randomly assigned. After successfully completing the examination individuals become recognized as an ICFE Certified Credit Score Manager and are presented with certificate suitable for framing. 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 thru 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'.


 

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

 
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