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Experian Information Solutions, Inc. is one of the 'big three' credit reporting agencies in the United States, with a presence in other markets, such as the United Kingdom. Like their main competitors, Trans Union and Equifax, they now market their credit reports directly to consumers, in addition to their core business of providing the reports to potential creditors. The company was once a part of TRW, but is now owned by retailer Great Universal Stores, PLC, of the United Kingdom. The North American division is based in Costa Mesa, California.
In addition to providing credit reports, Experian is the largest information provider in the world, providing services in risk management, direct marketing, and corporate and individual credit information. It maintains a databse of over 450 million vehicles containing title and registration data from North American governments.
Experian and other major credit bureaus are governed by the Fair Credit Reporting Act regarding matters of disputing inaccurate information on credit reports and ensuring accurate reporting of credit information. Critics charge that these companies' standard procedures fall short of the FCRA guidelines, burdening consumers with inaccurate information on their credit files and sometimes forcing them to resort to litigation to correct wrong information. Critics estimate that as many as twenty-five percent of American credit files contain sufficient inaccurate derogatory information to cause a denial of credit.
See also
- Credit score
- Identity theft
- Fair Credit Reporting Act
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