ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -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).

Detailed explanation-3: -Income and Employment Information. Public Records (Except Bankruptcy) Medical Information.

Detailed explanation-4: -These agencies include Equifax, Experian, and TransUnion. Due to the COVID-19 pandemic, many people are experiencing financial hardships. To remain in control of your finances, you can get free credit reports every week through December 2023. Request all three reports at once or one at a time.