BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not the type of credit reporting institutions?
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Credit Bureau
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Credit Agencies
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Both A and B
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None of the above
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Explanation:
Detailed explanation-1: -A credit bureau is one of the two main types of credit reporting institutions.
Detailed explanation-2: -The answer is C. Bank of America (BOA) is a commercial bank, who will obtain loan applicant’s credit report from three credit bureaus to analyze applicant’s financial situation. In the U.S, there are three trusted independent credit bureaus: TransUnion, Equifax and Experian.
Detailed explanation-3: -Most U.S. consumer credit information is collected and kept by the four national traditional consumer reporting agencies: Experian (formerly TRW Information Systems & Services and the CCN Group), Equifax, TransUnion, and Innovis (which was purchased from First Data Corporation in 1999 by CBC Companies).
There is 1 question to complete.