consumer reporting agency


An agency which collects and sells information about the creditworthiness of individuals. A credit reporting agency does not make any decisions about whether a specific person should be extended credit or not. Instead, it collects information that it considers relevant to a person's credit habits and history, and uses this information to assign a credit score to indicate how creditworthy a person is. Prospective creditors purchase credit reports from credit bureaus about specific individuals, and then they use this information to decide how much credit, if any, to extend to the individual.
also called credit bureau.

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When Susan applied for a new position, her prospective employer got in touch with a consumer reporting agency to see if she had been responsible with her credit.

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West Coast Wes contacted the consumer reporting agency responsible for giving him his low credit rating because he was denied a credit card based on that information.

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Banks don't issue credit cards just based on your income; instead they pull your credit report from a consumer reporting agency like Equifax to check your credit history and see if you actually pay your bills.

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consumer protection Fair Credit Reporting Act