Credit bureau

A trusted guardian of financial reputations, a credit bureau collects, maintains, and disseminates credit information on individuals and businesses, providing lenders with the insights they need to assess creditworthiness and make informed lending decisions.

Example

When a consumer applies for a loan, the lending institution may consult a credit bureau to obtain the applicant's credit report. This report, which includes information such as credit history, outstanding debts, and payment behavior, helps the lender determine the applicant's creditworthiness and decide whether to approve or deny the loan application.

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