Credit Bureau

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Credit Bureau

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.

References in periodicals archive ?
A company that is going to embark on such a major restructure will need to have an updated rating and it might as well try to engage with a credit rating agency at the earliest opportunity," says Schroeder.
The rating comes to enhance the visibility if credit rating agency for the development of leadership of Saudi Telecom in the area representing it strategic plans and operational capacity through strong cash flows and high revenues in addition to the strength of its financial position and credit index to meet any financing requirements in the future.
At the end of September credit rating agency Fitch gave both Lansbanki and Heritable BBB ratings and it was only eight days later that the rates fell to DD.
There was no emphasis placed on ensuring that the credit rating agency continued to satisfy the criteria.
According to credit rating agency Fitch, so-called structured finance dropped by almost half to $3.
US credit rating agency Moody's has downgraded the French public gas group Gaz de France's long-term debt rating from "Aa1" to "Aa3".
The Japan Credit Rating Agency (JCR) said Wednesday it has affirmed its ratings on yen and foreign-currency Japanese government bonds at AAA, the highest of its 20-notch ratings.
credit rating agency said India's balance of payments was resilient despite the recent economic crises in Asia and Russia and the international sanctions imposed on India following its nuclear test explosions in May last year.
Two of the companies participating in Metro East's proposal are rated ``unbalanced'' by Dun & Bradstreet, the credit rating agency, bringing into question their financial stability.
Best Asia Pacific Ltd has been approved as a licensed credit rating agency under the new regulatory regime of the Securities and Futures Commission (SFC) in Hong Kong.
Even large US credit rating agency rejects God into its system.
Finance House (FH) has secured Investment Grade Corporate Credit Ratings of "BBB-" Long-Term and "A3" Short-Term from Capital Intelligence (CI), the international credit rating agency.