Consumer Reporting Agency


Also found in: Acronyms.

Consumer Reporting Agency

A company measures of an individual's creditworthiness and sells information regarding it. Consumer reporting agencies quantify a variety of factors in an individual's background, including a history of default, the current amount of debt, and the length of time that the individual has made purchases on credit. Banks and other financial institutions may purchase information from a consumer reporting agency to determine whether or not an individual is likely to default on a loan, mortgage, or other debt. See also: Fair Isaac Corporation, Credit bureau.
References in periodicals archive ?
Notice of the consumer's right to dispute with the consumer reporting agency the accuracy or completeness of the report
FRAUD ALERT: essentially means a statement in a consumer's file at a consumer reporting agency, that will notify prospective users of a consumer report that the consumer may be a victim of fraud, including identity theft.
Section 603(f) the FCRA defines a consumer reporting agency as "any entity which for monetary fees, dues, or on a cooperative nonprofit basis regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers.
The consumer reporting agency will require verification that disclosures have been made and written consent has been received prior to producing a consumer report.
The employer must then obtain written authorization from the applicant or employee before allowing the consumer reporting agency to compile the report.
NCTUE is a consumer reporting agency consisting of approximately 70 utility, telecommunication and pay TV providers.
Imagination Technologies/FRS credits its continued growth to the great relationships it has with its 200+ Consumer Reporting Agency (CRA) clients as well as excellent partnerships with the leading information providers in the background screening industry.
Further, as a nationwide consumer reporting agency, we intend to participate on www.
Our experience in the United States as the largest consumer reporting agency serving the non-traditional credit markets coupled with our technical expertise has enabled us to develop a specialist solution to meet this need in the UK.
com), for example, is a nationwide specialty consumer reporting agency that collects and reports information regarding insurance claims, employment, and tenant history.
A "consumer report" is any "written, oral or other communication of any information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor" in a consumer's eligibility for credit or insurance or for employment purposes.
FCRA defines a consumer reporting agency as "any person which for monetary fees, dues or on cooperative nonprofit basis regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information for the purpose of furnishing consumer reports to third parties.
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