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Credit Bureau
(redirected from Credit bureaus)

   Also found in: Financial, Encyclopedia, Wikipedia 0.01 sec.

A privately owned, profit-making establishment that—as a regular business—collects and compiles data regarding the solvency, character, responsibility, and reputation of a particular individual or business in order to furnish such information to subscribers, in the form of a report allowing them to evaluate the financial stability of the subject of the report.

Credit bureaus ordinarily prepare and issue reports for lending institutions and stores that investigate the financial reliability of an applicant for credit prior to the execution of the credit agreement.

Credit bureaus are regulated by the federal Fair Credit Reporting Act (15 U.S.C.A. § 1681 et seq. [1970]) and by state statute to safeguard against abusive and damaging practices.


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? References in periodicals archive
Personal advocates will assist affected customers with filing police reports, placing fraud alerts with the three major credit bureaus, creating fraud-victim affidavits, notifying governmental agencies, preparing all documents and phone calls to notify creditors, and several other tasks.
Make sure you have documentation and alert credit bureaus if you don't get a resolution.
Order a copy of your credit report each year from one of the national credit bureaus and review it closely for any questionable entries.
 
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