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E-LOAN Ranked 'Best Overall' in Financial Services Customer
Respect Study
PLEASANTON, Calif., April 6 /PRNewswire-FirstCall/ -- E-LOAN(R) (NASDAQ:EELN),
an online consumer direct lender, today announced that it received the overall
highest rating in the First Quarter 2005 Online Customer Respect Study of North
America's largest financial services firms.
The independent study conducted by The Customer Respect Group, an international
research and consulting firm that focuses on how corporations treat their
customers online, reported that E-LOAN's Consumer Respect Index rating was the
highest among all traditional and Internet-based financial services firms
included in the survey. The Customer Respect Index is a qualitative and
quantitative in-depth analysis and independent measure of a customer's online
experience when interacting with companies via the Internet.
Overall, financial firms improved their performance over the past year.
However, in the area of privacy -- an area consumers continually report as the
single most important area when choosing a financial services provider --
financial services firms, excluding E-LOAN, have failed to perform, with nearly
half of financial services firms sharing personal data without permission.
"When consumers consider working with financial services companies, customer
respect is a major factor," said Terry Golesworthy, President of The Customer
Respect Group. "In our study, E-LOAN consistently scored high in all areas of
customer respect, including privacy. We applaud E-LOAN's commitment to its
customers."
"E-LOAN is a company that was founded on the fundamental belief that consumers
deserve better," said Mark Lefanowicz, Chief Executive Officer of E-LOAN. "In
our experience, consumers are looking for a lending partner that they can
trust. We continually have honored that covenant by offering exceptional
customer service and adhering to the strictest of consumer privacy protection
standards."
Since its inception, E-LOAN has been working on behalf of consumers to
transform the lending industry, providing consumers with a more open, fair and
honest lending experience. As a staunch consumer advocate, E-LOAN played an
integral role in the legislative battle to provide consumers access to their
credit scores, the most important factor in determining whether a consumer is
approved for a loan and at what rate.
In June 2002, E-LOAN co-founded Californians for Privacy Now (CFPN), a
coalition dedicated to requiring financial services companies to first obtain
consumers' consent before sharing their information with third parties and
affiliates. As a result, E-LOAN helped facilitate the California legislature's
passage of the strongest consumer financial privacy protection law in the
nation.
Additional information about this study and The Consumer Respect Group can be
obtained by visiting http://www.customerrespect.com/, calling 617-378-3173 or
emailing .
About E-LOAN
E-LOAN is an online consumer direct lender dedicated to providing borrowers
across the credit spectrum with a more enjoyable and affordable way to obtain
mortgage, auto and home equity loans. By making credit scores freely available
to consumers and integrating them with a suite of sophisticated advice tools,
E-LOAN is pioneering the nascent debt management advice category -- helping
consumers proactively manage their loan portfolios to lower their overall
borrowing costs. The company relentlessly advocates eliminating the unnecessary
processes, fees, hassle, haggle and lack of transparency traditionally
associated with the consumer loan experience. Protecting consumers' financial
privacy is a paramount concern, prompting E-LOAN to implement industry leading
privacy practices and advocate strong consumer financial privacy protection
laws. In June 2004, an independent study conducted by TRUSTe and The Ponemon
Institute ranked E-LOAN as one of the top 20 most trusted companies for privacy
in America. E-LOAN was the highest ranked online financial services company to
make the top 20.
Consumers can log onto http://www.eloan.com/ or call 1-888-E-LOAN-22 to access
E-LOAN's products, services and team of dedicated loan and debt advice
professionals. E-LOAN, Inc. is publicly traded on the Nasdaq National Market
under the symbol EELN. From inception through December 2004, E-LOAN has
originated and sold over $24.1 billion in consumer loans.
This news release contains forward-looking statements based on current
expectations that involve risks and uncertainties. E-LOAN's actual results may
differ from the results described in the forward-looking statements. Factors
that could cause actual results to differ include, but are not limited to,
general conditions in the mortgage and auto industries, interest rate
fluctuations, and the impact of competitive products. These and other risk
factors are detailed in E-LOAN's periodic filings with the Securities and
Exchange Commission.
E-LOAN Press Contact: E-LOAN Press/Investor Contact:
Laurie Azzano Tiffany Fox
Cosmo Public Relations E-LOAN, Public/Investor Relations
504-296-1349 925-847-6314
DATASOURCE: E-LOAN
CONTACT: media, Laurie Azzano of Cosmo Public Relations,
+1-504-296-1349, or , for E-LOAN; or media or investors,
Tiffany Fox of E-LOAN, +1-925-847-6314, or
Web site: http://www.eloan.com/