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Credit reporting agencies (CRAs) collect and maintain information for your credit reports. Each CRA manages its own records and might not have information about all your accounts. Even though there are differences between their reports, no agency is more important than the others. And the information each agency has must be accurate.


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Making sure your credit report is accurate ensures your credit score can be too. You can have multiple credit scores. The credit reporting agencies that maintain your credit reports do not calculate these scores. Instead, different companies or lenders who have their own credit scoring systems create them.

Your free annual credit report does not include your credit score, but you can get your credit score from several sources. Your credit card company may give it to you for free. You can also buy it from one of the three major credit reporting agencies. When you receive your score, you often get information on how you can improve it.

If you want lenders and other companies to be able to access your credit files again, you will need to lift your credit freeze permanently or temporarily. Contact each credit reporting agency. You'll use a PIN or password to lift your credit freeze. You can lift your credit freeze as often as you need to, without penalties.

The credit reporting agency (CRA) and the information provider are liable for correcting your credit report. This includes any inaccuracies or incomplete information. The responsibility to fix any errors falls under the Fair Credit Reporting Act.

Negative information in a credit report can include public records--tax liens, judgments, bankruptcies--that provide insight into your financial status and obligations. A credit reporting company generally can report most negative information for seven years.

Anyone who denies you credit, housing, insurance, or a job because of a credit report must give you the name, address, and telephone number of the credit reporting agency (CRA) that provided the report. Under the Fair Credit Reporting Act (FCRA), you have the right to request a free report within 60 days if a company denies you credit based on the report.

A medical history report is a summary of your medical conditions. Insurance companies use these reports to decide if they will offer you insurance. You have the right to get a copy of your report from MIB, the company that manages and owns the reporting database.

It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this subchapter.

The Act (Title VI of the Consumer Credit Protection Act) protects information collected by consumer reporting agencies such as credit bureaus, medical information companies and tenant screening services. Information in a consumer report cannot be provided to anyone who does not have a purpose specified in the Act. Companies that provide information to consumer reporting agencies also have specific legal obligations, including the duty to investigate disputed information. In addition, users of the information for credit, insurance, or employment purposes must notify the consumer when an adverse action is taken on the basis of such reports. The Fair and Accurate Credit Transactions Act added many provisions to this Act primarily relating to record accuracy and identity theft. The Dodd-Frank Act transferred to the Consumer Financial Protection Bureau most of the rulemaking responsibilities added to this Act by the Fair and Accurate Credit Transactions Act and the Credit CARD Act, but the Commission retains all its enforcement authority.

Subsequently, the task force has been transformed into a more permanent structure, that is, the International Committee on Credit Reporting (ICCR). Since then, the Committee has produced various publications on credit reporting and promoting access to credit. Currently, the Committee is working in promoting and facilitating observance and implementation of the standards by providing additional information and guidance.

The ICCR is the only recognized international standard setter in credit reporting. The Committee is a responsible to (i) further develop the international agreed framework, (ii) identify areas of further consideration and (iii) devote resources to the elaboration of papers, reports, guidelines and other relevant materials that will effectively support the adequate implementation of the General Principles. The ICCR supports a forward looking and broad approach to specific issues while achieving consensus in policy aspects that affect public interest. To this end, the ICCR has developed the General Principles for Credit Reporting (2011), the report Facilitating SME Financing through Enhanced Credit Reporting (2014), The Role of Credit Reporting in supporting Financial Regulation and Supervision (2016) and the Policy Brief on Credit Reporting Contribution to Financial Inclusion (2017). All these documents are part of the Standards and comprise the framework for credit reporting systems.

This report presents the methodology for assessing country-level observance of the five general principles and related roles of credit reporting system participants, and of the recommendations for effective oversight of credit reporting systems.

The main purpose of the Assessment Methodology (AM) for credit reporting is to provide guidance to assessors, through a structured framework, on how to conduct assessments of observance of the GPCR. This AM is primarily intended for external assessors, in particular for the international financial institutions.

The report thus identifies actions that could be undertaken by authorities and other relevant policy makers to improve the flow of data and other relevant credit information on SMEs to creditors through credit reporting systems. For this purpose, the report first analyses the overall status of credit reporting activities in connection with SMEs. The key topics or areas identified in the World Bank General Principles report delimit the scope of this analysis.

In many countries, credit reporting already plays a significant role in supporting financial sector regulation and supervision, both from a micro-prudential as well as from a macro-prudential perspective. This report identifies the key elements and practices that characterize a credit reporting system that is effective in supporting central banks and other regulators/supervisors in discharging their respective micro- and macro-prudential supervisory and regulatory responsibilities.

The specific focus of this report is on how the various types of CRSPs satisfy the underlying data needs of these authorities, as well as the difficulties that CRSPs often face in this specific context. These key elements, can guide financial sector authorities in their efforts to build or to reform and modernize the various elements of their credit reporting system and maximize its usefulness for supervisory and regulatory purposes.

Your credit report affects your ability to get a loan as well as the interest rate you will be required to pay. Congress has passed credit reporting legislation to give consumers access to their credit information and protect them from unfair, fraudulent, or deceptive credit practices.

The Fair Credit Reporting Act (FCRA) regulates the consumer credit reporting industry. In general, the FCRA requires that industry to report your consumer credit information in a fair, timely, and accurate manner. Banks and other lenders use this information to make lending decisions. If a lender denies credit or increases the cost of credit to you, it must give you the name and address of the consumer reporting agency from which it received your report. Under the FCRA, you have the right to review that report and correct any errors that may be in it. Read "Credit and Your Consumer Rights" on the Federal Trade Commission website and see the OCC's "Answers About Credit Reports."

In accordance with 23 NYCRR Part 201, all consumer credit reporting agencies that report on 1,000 or more New York consumers in any twelve-month period must register with the Department, annually renew their registrations, and submit annual reports.

Any consumer credit reporting agency that reported on 1,000 or more New York consumers in the preceding twelve-month period was required to submit an initial registration on or before September 15, 2018. Any other consumer credit reporting agency that thereafter reports on 1,000 or more New York consumers in a twelve-month period must register with the Department within 15 days of meeting that threshold.

The Fair Credit Reporting Act (FCRA) is a federal law that helps to ensure the accuracy, fairness and privacy of the information in consumer credit bureau files. The law regulates the way credit reporting agencies can collect, access, use and share the data they collect in your consumer reports.

See a more detailed summary of the FCRA below or visit for more information. Keep in mind that in addition to the FCRA laws, some states have their own laws regulating consumer credit reporting; you'll find that information below under "Notification of Rights."

Para informacion en espanol, visite o escribe a la Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, D.C. 20552.A Summary of Your Rights under the Fair Credit Reporting ActThe federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). Here is a summary of your major rights under the FCRA. For more information, including information about additional rights, go to or write to: Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, D.C. 20552. 041b061a72


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