Organizations
CRA (Consumer Reporting Agency): Definition
An organization that collects and sells consumer credit information.
Definition
A Consumer Reporting Agency (CRA), also called a credit bureau, is an organization that collects, maintains, and provides consumer credit information to authorized users. The three major national CRAs are Equifax, Experian, and TransUnion. CRAs are regulated under FCRA.
Usage Notes
- Must follow FCRA requirements
- Responsible for credit file accuracy
- Investigate consumer disputes within 30 days
Related Terms
More Organizations
CFPB (Consumer Financial Protection Bureau)
The federal agency regulating consumer financial products.
CDIA (Consumer Data Industry Association)
The trade association representing consumer reporting agencies.
Equifax
One of the three major national credit bureaus.
Experian
One of the three major national credit bureaus.
TransUnion
One of the three major national credit bureaus.
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