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CREDIT BUREAU

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

There are three major credit bureaus, Equifax, Experian and Trans Union, regulated by the federal Fair Credit Reporting Act, that collect and sell information about the credit history of people and entities. The credit reports are used by banks and credit card companies (and others in the practice of lending) to screen applications for reliability and ability to pay debts.

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