Research Department

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Carleton's Research Department is an integral part of our back-end support included with all of our software solutions. The department maintains a lending and credit insurance regulatory library of related lending and credit insurance for all states and the federal government. Over the years, our research team has established a positive working relationship with most federal and individual state regulators as it relates to accurate interpretation of the regulations. This type of collaboration with administrators dates back to when Carleton served on the Federal Reserve's Advisory Board during the implementation of Regulation Z in 1968. In fact, in 12 states examiners use Carleton custom-designed software to perform computational audits during state examinations.

State specific consumer credit laws and regulations are far from uniform and are interpreted differently by each legal authority responsible for enacting legislation. The mission of the Carleton Research Department is to ensure that our clients lending calculations are computed accurately and are regulatory compliant.

Carleton's Research Department assists our customer support area in defining the proper basis of computations for clients using Carleton software solutions. This assistance includes communicating with our client's compliance department in understanding it's lending guidelines and identifying the regulations that apply to its client's class of lending. After Carleton software solutions are placed in the field, the research team stands ready to assist Carleton clients with consulting support and addressing the impact of changes in regulations.

Carleton's extensive list of research qualifications include:

  • Forty-five years of experience reviewing and defining consumer lending computations that comply with regulations and statutes.
  • Complete familiarity with:
    • state-regulated consumer finance and leasing laws throughout the United States (over 225)
    • Federal Regulation Z (Truth-in-Lending) and Regulation M (Leasing)
    • real estate mortgage lending laws
    • consumer credit insurance regulations in all 50 states
    • provincial laws and acts of Canada and Mexico
  • consumer credit calculation expertise in financial and credit insurance mathematics with a library of over 8,000 financial subroutines to use for analysis

  • Served as an advisory member to the Federal Reserve Board for Truth-in-Lending; Regulation Z

  • Consulting engagements with banking and state insurance administrators

  • Examiners in 12 states use Carleton calculation software to verify calculation compliance.

  • Publisher of "Cost of Personal Borrowing in the United States" - a comprehensive compliance subscription service that stays current with all lending and credit insurance regulation

  • Experienced staff that includes regulatory research experts and financial software developers and actuaries that average over 20 years of experience

  • Serving on regulatory committees of national lending and credit insurance associations