Carleton, Inc.
Carleton Financial Computations Inc. has been supplying credit computations to the consumer credit industry since the mid-1960’s. The Carleton rate chart became an industry staple for finance companies in the 1970’s and the evolution to electronic devices began in the early 1980’s with the Sharp handheld computer line.
Today Carleton provides a wide range of software solutions for loan origination along with supplying “black box” solutions that interface with existing software systems through a series of library sub-routines. Regardless of the medium used to display their disclosures, Carleton computations have gained a well deserved reputation for reliability, precision, and accuracy in the consumer credit and credit insurance industries.
Carleton founder Joseph C. Pitts participated as a member of the industry advisory board working with the Federal Reserve Board of Governors during the construction of Regulation Z to implement the Truth-in-Lending Act.
Carleton participated in the same capacity during Truth-in-Lending Simplification 10 years later and the Carleton Research Department played an instrumental role in the creation of Appendix J to Regulation Z that outlines the rules for computing a proper annual percentage rate.
Carleton’s acknowledged expertise in the area of consumer credit computations has continued in the form of regular consulting projects with members of the National Association of Consumer Credit Administrators, the Federal Reserve Board and many industry leaders such as The Associates, NationsBank, and Fleet Bank, to name just a few.
Financial Publishing Company
In 1996, Carleton acquired its long-time friendly competitor Financial Publishing Company of Boston, MA. The addition of FPC and its 100 year history of consumer credit computations only enhanced Carleton’s position as an industry leader.
