What is a credit bureau agency?


A credit bureau agency is an establishment collecting and evaluating consumer data to provide businesses with a solid measure of trustworthiness of consumers.

Businesses need the services provided by a credit bureau agency - those services include credit intelligence, fraud detection, portfolio management, marketing tools, etc.

Consumers obtain their credit information to protect themselves from identity theft, and clear wrong items to maximize their score.

A credit bureau agency is often termed a credit reporting company (CRC) or a credit reporting agency (CRA). The Federal Fair Credit Reporting Act (FCRA) is the major source for regulating credit bureaus.

How many are the credit bureau agencies in the US?

All four credit bureau agencies in the US - Innovis, Experian, Equifax and TransUnion - are for profit entities. Services and data accuracy provided by the bureaus are supervised by the Federal Trade Commission.

Beside consumer credit bureau services, there are commercial credit services provided to US businesses by Dun & Bradstreet, Experian Business, and Equifax Small Business Financial Exchange commercial credit bureaus.

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