FEDERAL TRADE COMMISSION: Disposal of Consumer Report Information and Records

The complex system for reporting and reviewing credit involves a large number of participants who fall generally into one of six categories: consumers; data repositories; data users; data furnishers; credit reporting agencies; and analytical service providers. Approximately 190-200 million consumers have credit reports maintained by the three major credit repositories (Experian, Equifax, and Trans Union) 9 . Data users include lenders, insurers, landlords, utility companies, and employers, who review the credit information in consumers’ credit reports to make decisions about extending and pricing credit, offering and pricing insurance policies, and providing utility services, rental housing, or offers of employment. ...