Credit Bureau

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Related to Credit Bureau: TransUnion

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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
To be successful, credit bureaus need to be either government-led, or industry controlled and regulated by the government.
An ACDV consists of a few items: identifying information about the consumer in the credit bureau's file; one or two codes summarizing the consumer's dispute; and, in some cases, a one-or-two-line free-form narrative field that supplements the dispute codes.
''The launch of the consumer credit bureau will mark the beginning of a new risk management process in Singapore.
Here is what you need to know about credit bureaus and what they do with your credit score.
The government also said the country would have obtained a higher score if the World Bank included data from all the credit bureaus-the BAP Credit Bureau Inc., TransUnion Information Solutions Inc.
Participants of the banking market decided to establish Azerbaijan Credit Bureau LLC in December 2017.
The State Bank has alreAady issued conditional liceAnAce to the one of the company to function as credit bureau in private sector who has met the minimum paid up capital requirement of R250m.
Emirates NBD has announced that it will offer customers preferential lending and pricing based on the Al Etihad Credit Bureau consumer credit score.
Dubai: Credit bureau enquiries by subscribers increased by 44 per cent compared to the previous year, according to Marwan Ahmad Lutfi, CEO of Al Etihad Credit Bureau.
"a) The existing requirement of credit information report issued by a credit bureau to be verified by the State Bank of Pakistan (SBP), has been omitted, as the credit information report shall in most of the cases be accessed electronically by financial institutions that have data sharing arrangements with the credit bureau.
The UAE's Al Etihad Credit Bureau (AECB) held its first Annual Al Etihad Credit Bureau Subscriber Forum on Monday, 13 June, at the JW Marriott Marquis Hotel in Dubai.

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