Consumer Credit Reporting, Credit Bureaus, Credit Scoring, and Related Policy Issues [Updated June 22, 2020]   [open pdf - 1MB]

From the Introduction: "This report first provides background information on the consumer data industry and various specialty areas. The report examines one prominent specialty area--consumer scoring--and describes various factors used to calculate credit scores. Next, the report provides a general description of the current regulatory framework of the consumer data industry. Finally, the report discusses selected policy issues pertaining to consumer data reports. Specifically, the report addresses policy issues concerning (1) inaccurate or disputed consumer data provided in consumer data reports; (2) how long negative or derogatory information should remain in consumer data reports; (3) differences in billing and collection practices that can adversely affect consumer data reports, an issue of particular concern with medical billing practices; (4) consumers' rights; (5) whether uses of credit bureau data outside of the financial services, such as for employment decisions, adversely affect consumers and should be limited; (6) whether the use of 'alternative' consumer data or newer versions of credit scores may increase accuracy and credit access; and (7) how to address data protection and security issues in consumer data reporting. For each policy issue, the report addresses corresponding legislative and regulatory developments."

Report Number:
CRS Report for Congress, R44125
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Media Type:
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