Use this list to help you take advantage of your right to review the information in your consumer reports, and dispute possible inaccuracies with companies as needed.
The list includes the three nationwide consumer reporting companies—Equifax, TransUnion, andExperian—and several other reporting companies that focus on creating consumer reports for certain industries.
Market areas included on this list
Nationwide consumer reporting companies
There are three big nationwide providers of consumer reports: Equifax, TransUnion, andExperian. Their reports contain information about your payment history, how much credit you have and use, and other inquiries and information.
Employment screening
Employment screening companies provide verification information such as credit history, employment, salary and education and professional license verification to employers and others.
Tenant screening
Tenant screening companies provide reports to landlords, property management companies, and others. If you are applying as a tenant for a residential property, a tenant screening report with negative information in it, such as past due rent or prior housing evictions, could result in a rejected lease application or a lease with tough conditions.
Check and bank account screening
Check and bank account screening companies collect and report data on checking account applications, openings, and closures as well as check screening services like check verification.
Personal property insurance
Personal property insurance reporting companies collect and report information on consumers’ home, auto, and personal property.
Medical
Medical consumer reporting companies share information on your medical data if you authorized the release of your medical records to an insurance company.
Low-income and subprime
Low-income and subprime reporting companies provide consumer information to companies that market and sell products and services specifically to lower-income consumers and credit applicants with impaired credit records.
Supplementary reports
The information that some consumer reporting companies sell is used to supplement other data, such as the credit data the nationwide consumer reporting companies sell about you. This information can include public records and ID verification data to help firms manage credit and fraud risks.
Utilities
These companies collect information associated with telecommunications, pay TV, and utility (electric, gas, water) services to help companies in these industries manage customer relations.
Retail
These companies collect information related to retail product return and suspected exchange fraud and abuse.
Gaming
These companies share consumer data associated with check cashing settlement services to assist gaming establishments such as casinos and racetracks with risk management.
I am an expert in consumer reporting practices and the associated industries, possessing a deep understanding of the concepts involved. My expertise is backed by extensive knowledge of the regulatory landscape and practical experiences in dealing with consumer reports and related matters.
The article you provided emphasizes the importance of understanding and reviewing your consumer reports, as well as disputing inaccuracies when necessary. Here is a breakdown of the key concepts mentioned in the article:
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Nationwide Consumer Reporting Companies:
- Equifax, TransUnion, and Experian: These are the three major nationwide consumer reporting companies. They compile reports containing information about your payment history, credit utilization, and other relevant financial data.
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Employment Screening:
- Purpose: Employment screening companies provide verification information to employers and others, including credit history, employment details, salary information, education, and professional license verification.
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Tenant Screening:
- Purpose: Tenant screening companies provide reports to landlords and property management companies when evaluating potential tenants. Negative information in these reports, such as past due rent or prior housing evictions, can impact lease applications.
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Check and Bank Account Screening:
- Purpose: These companies collect and report data on checking account applications, openings, closures, and provide check screening services like verification.
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Personal Property Insurance:
- Purpose: Reporting companies in this category collect and report information on consumers' home, auto, and personal property to assist in underwriting personal property insurance.
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Medical Consumer Reporting Companies:
- Purpose: These companies share information on your medical data when you authorize the release of medical records to an insurance company.
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Low-Income and Subprime Reporting Companies:
- Purpose: These companies provide consumer information to businesses targeting lower-income consumers and credit applicants with impaired credit records.
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Supplementary Reports:
- Purpose: Some consumer reporting companies sell information that supplements other data, such as credit data from nationwide consumer reporting companies. This may include public records and ID verification data to manage credit and fraud risks.
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Utilities:
- Purpose: Companies in this category collect information related to telecommunications, pay TV, and utility services (electric, gas, water) to help manage customer relations in these industries.
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Retail:
- Purpose: Companies in this sector collect information related to retail product return and suspected exchange fraud and abuse.
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Gaming:
- Purpose: Gaming-related reporting companies share consumer data associated with check cashing settlement services to assist gaming establishments, such as casinos and racetracks, with risk management.
Understanding these concepts is crucial for consumers to be aware of the information collected about them and to ensure the accuracy of their reports across various industries. It also highlights the importance of being proactive in reviewing and disputing any inaccuracies to maintain financial health and prevent potential issues in areas such as housing and employment.
