Credit Bureau

(redirected from Credit reference agency)
Also found in: Dictionary, Thesaurus, Financial, Acronyms.

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 ?
When this is done, the credit reference agency must send details to any lender who has searched your file in the previous six months.
The Teletrack UK solution can also combine credit performance data received from credit grantors that manage risk in non-traditional financial sectors with information obtained from a traditional credit reference agency.
CREDIT reference agency Experian has launched a new service which aims to alert lenders to people who may be at risk of defaulting on debts.
3Your 3 Your right to access your credit file IF you have been turned down for a credit agreement, you have the right, under sections 157-159 of the Act, to request that the creditor provides you with details of the credit reference agency they used to access your credit file.
3Your 3 Your right to access your credit file IF you have been turned down for a credit agreement, you have the rightto access your credit file IF you have been turned down for a credit agreement, you have the right, under sections 157-159 of the Act, to request that the creditor provides you with details of the credit reference agency they used to access your credit file.
Asurvey by credit reference agency Callcredit showed that residents of six areas in Greater London had the biggest debts.
Analysis carried out by credit reference agency Experian found that the wealthiest and most credit-worthy sections of society were at the greatest risk from identity fraud, with criminals increasingly launching premeditated and sophisticated attacks on them.
A survey by credit reference agency Callcredit found more than one per cent of adults in the city had been affected by identity theft.
The Forum of Private Business, which represents 25,000 small firms, made its remarks in light of figures produced by credit reference agency Equifax and Close Credit Management.
Nine out of 10 people say they will pay for the cost of Christmas through savings or their monthly income, rather than by borrowing money, according to credit reference agency MyCallcredit.
Check with a credit reference agency such as Experian to see no fraudulent bids for credit have been made in your name.
Callcredit is the first European credit reference agency to provide this valuable credit fraud prevention tool to the market.