ECOA Statements. Equifax reasonably believes that, subject to validation by Subscriber on its own records, (1) the scoring algorithms used in the computation of the Scores are empirically derived from consumer credit information from Equifax’s consumer credit reporting database, and are demonstrably and statistically sound methods of rank ordering candidate records from the Equifax consumer credit database for the purposes for which the Credit Score Information Services were designed particularly (as stated in Exhibit B for each particular Credit Score Information Service), and each is intended to be an “empirically derived, demonstrably and statistically sound credit scoring system” as defined in Regulation B, with the understanding that the term "empirically derived, demonstrably and statistically sound," is defined only in a general manner by Regulation B, and has not been the subject of any significant interpretation; and (2) the scoring algorithms comprising the Credit Score Information Services, except as permitted, do not use a “prohibited basis,” as such phrase is defined in Regulation B. Subscriber must validate the Credit Score Information Services on its own records. Subscriber will be responsible for meeting its requirements under the ECOA and Regulation B.
ECOA Statements. Subject to the terms below, Equifax reasonably believes that, (1) the scoring algorithms used in the computation of the Scores are empirically derived from consumer credit information from Equifax’s consumer credit reporting database, and are demonstrably and statistically sound methods of rank ordering candidate records from the Equifax consumer credit database for the purposes for which the Insurance Score Information Services were designed particularly (as stated in Exhibit B for each particular Insurance Score Information Service), and each is intended to be an “empirically derived, demonstrably and statistically sound credit scoring system” as defined in Regulation B; and (2) the scoring algorithms comprising the Insurance Score Information Services, except as permitted, do not use a “prohibited basis,” as such phrase is defined in Regulation B. This section and Equifax’s statements herein are contingent on Client’s use of the Score for the purpose for which it was designed, in compliance with this Agreement. Client must validate the Insurance Score Information Services on its own records. Client will be responsible for meeting its requirements under the ECOA and Regulation B and will not use any Score in any manner that violates any fair lending laws.
ECOA Statements. Equifax reasonably believes that, subject to validation by Customer on its own records, (1) the scoring algorithms used in the computation of the Score are empirically derived from consumer credit information from Equifax's consumer credit reporting database, and are demonstrably and statistically sound methods of rank ordering candidate records from the Equifax consumer credit database for the purposes for which the Score was designed particularly, and it is intended to be an "empirically derived, demonstrably and statistically sound credit scoring system" as defined in Regulation B, with the understanding that the term "empirically derived, demonstrably and statistically sound," is defined only in a general manner by Regulation B, and has not been the subject of any significant interpretation; and (2) the scoring algorithms comprising the Score, except as permitted, do not use a "prohibited basis," as such phrase is defined in Regulation B. Customer must validate the Score on its own records. Customer will be responsible for meeting its requirements under the ECOA and Regulation B.
