Fair and Accurate Credit Transactions Act (FACTA) Compliance - Project Overview
Business Situation
Our regulatory compliance offers drive value to our clients, their customers and the community.
A Fortune 200 financial services company, was faced with the daunting challenge of becoming compliant with the Fair and Accurate Credit Transactions Act of 2004 (FACTA), a far reaching piece of legislation marked by numerous rule sets that had yet to be written. This company was left to manage a complex regulatory program with quickly approaching compliance dates as they awaited rule sets to trickle in from the various regulatory bodies. Based on Dominion Digital’s proven track record of success with regulatory compliance programs, the client engaged Dominion Digital to support their efforts. As rule sets were being defined, Dominion Digital was further engaged to assist in providing detailed, industry-specific analysis that would be used to help guide the various rule making bodies in creating the most effective legislation.
Business Result
Dominion Digital helped the client rapidly assess this complex legislation and implement the most cost-effective solutions to ensure compliance across the enterprise. In addition, Dominion Digital was able to communicate potential industry impacts to the legislative bodies as they codified the rule sets necessary to make the legislation complete.