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credit bureau
(redirected from Consumer credit reporting agency)

   Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.03 sec.

credit bureau

Organization that provides information to merchants or other businesses concerning the creditworthiness of their customers. Credit bureaus may be private enterprises or may be operated on a cooperative basis by the merchants in one locality. Users of the service pay a fee and receive information from various sources, including businesses that have granted the customer credit in the past, public records, newspapers, the customer's employment record, and direct investigation.



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A company that issues credit scores for individual credit-worthiness is generally called a credit bureau or consumer credit reporting agency.
California requires a consumer credit reporting agency to provide a statement describing the statutory rights of identity theft victims and provide a free monthly copy, for up to 12 months, of a consumer's file.
1607 requires that in response to a request for a credit file, a consumer credit reporting agency must disclose the consumer's most recent credit score, range of scores, an explanation of the credit score and the key factors that adversely affected the consumer's credit score.
 
 
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