Federal Regulation Z, called the Truth in Lending Agreement, dictates that every loan discloses how much the borrower is borrowing in terms of an Annual Percentage Rate. BetaCom’s APR module has been tested and verified as accurate by the industry’s leading independent contractor.

BetaCom’s software solutions include several features to help lending institutions of all sizes accurately and quickly calculate and manage APRs for loans. The flexible APR enables the user administrator to change the parameters of the APR depending on the type and length of the loan. In addition, the APR Service provides two types of APR calculation based on Regulation Z: Accrual Method, which is used for the majority of payday and auto title loans in most states, and the U.S. Rule Method, which may be used to calculate installment loans. BetaCom ensures reliable and accurate APR calculation for every loan, which can be easily verified for auditing purposes.

Betacom's current solution has APRs for the following States: