ORLANDO, Fla. – US Equity Advantage® (USEA) has passed a significant milestone, transmitting more than $1.3 billion in loan payments for its members, according to the company’s latest operating data. USEA is an industry leader in providing safe and secure early loan payoff services from home and automotive to RV, boat and student loans. The company is fully compliant with the stringent money transmitter requirements related to licensing and bonding in all 50 states via direct licensing and contractual relationships.
US Equity Advantage uses a Tier IV data center with a three-factor security access requirement to house customer data. Authentication methods that depend on more than one factor are more difficult to compromise than single-factor methods, according to guidance from the Federal Financial Institutions Examination Council.
“We consider the safety of our members’ money our top priority,” said CEO Robert M. Steenbergh. “USEA uses a full range of Internet security measures, including routers and firewalls, cryptography, and business processes to safeguard their money and personal information.”
US Equity Advantage® meets all requirements as set forth in the Electronic Funds Transfer Act (EFTA) which was enacted by the Board of the Federal Reserve as a way to protect consumers in all electronic fund transfer matters. All customer information is handled in accordance with the Gramm-Leach-Bliley Act (GLBA) which enforces the protection of all customer nonpublic personal information and the Federal Trade Commission’s (FTC) requirements for safeguarding customer privacy. In addition, the company is federally registered with the Financial Crimes Enforcement Network (FinCEN) and complies with all Bank Secrecy Act (BSA) and Anti Money Laundering (AML) requirements as set forth in the PATRIOT Act.
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