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Credit Reporting

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Q1
Describe the services provided by a credit reporting service such as Experian, Equifax, and TransUnion. How are these services provided?

Q2
In the United States, information that a company collects about the customer is legally the company's property. In the European Union, this information is the individual's property. Explain why there is this difference in the legal treatment of this information.

Your response should be at least 75 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

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https://brainmass.com/business/management-information-systems/credit-reporting-613324

Solution Preview

Good Evening,

Below are some concepts for you to use while answering the questions. I provided the framework for you. You may add or take away as you see fit.

Let me know if you have any questions.

Thanks,
Kyla

Question 1

Credit reporting agencies play a vital role in measuring the economic health of those wishing to pursue financial endeavors such as purchasing a home with a mortgage, purchasing a car with a loan, seeking employment, etc. There are three credit reporting agencies: Experian, Equifax and Transunion. These agencies are ...

Solution Summary

Provides a description of credit reporting for individuals and businesses. Describes the difference between credit reporting agencies in the U.S. and European nations.

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