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Credit Bureau
(redirected from Credit reference agency)

   Also found in: Dictionary/thesaurus, Financial, Acronyms, 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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Your credit rating is calculated by a credit reference agency The agency will carry out a credit rating check by compiling information based on a variety of sources, such as the electoral role, financial data and court records Your credit rating is calculated by a credit reference agency.
Leeds-based Callcredit, a credit reference agency, gives lenders taking part in its over-indebtedness initiative (OII) information on which customers seem likely to be unable to meet their repayments.
New EU regulations on health and the environment could combine with UK legislation to erode the quality and quantity of information available to firms seeking customer credit scores based on information filed at Companies House, according to credit reference agency Graydon UK.
 
 
 
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