Legal Definitions - credit-reporting bureau

Credit-Reporting Bureau

A credit-reporting bureau is an organization that creates investigative reports about a person's creditworthiness and personal information. These reports are made by gathering information from various sources, including interviews with neighbors, friends, and coworkers. The reports are used mainly by employers, insurance companies, and landlords to evaluate prospective employees, applicants, and tenants.

Example 1: A person applies for a job, and the employer requests a credit report from a credit-reporting bureau. The report includes information about the person's credit history, employment history, and personal information gathered from interviews with their neighbors and coworkers.

Example 2: A person applies for an apartment, and the landlord requests a credit report from a credit-reporting bureau. The report includes information about the person's credit history, rental history, and personal information gathered from interviews with their previous landlords and neighbors.

These examples illustrate how credit-reporting bureaus gather information from various sources to create investigative reports that are used by employers, insurance companies, and landlords to evaluate a person's creditworthiness and personal information.