Main Credit Reporting Companies

Federal law mandates that the three nationwide consumer reporting agencies provide citizens with a free copy of their credit report every year. The Fair Credit Reporting Act (FCRA) sets the standards for information included in a report, such as where you live, if you have been sued or arrested, bankruptcy filings and how you pay bills. The FCRA is enforced by the Federal Trade Commission.

Equifax

Equifax is the oldest credit reporting agency in the United States. Founded in 1899, the Atlanta-based global company of approximately 7,000 employees provides a wide range of credit and financial services to consumers and businesses. It is a publicly traded company on the New York Stock Exchange under the ticker symbol EFX. Equifax, like all three credit reporting companies, sells consumer credit information to banks, employers, creditors and other business that use the information to evaluate job, credit, rental, insurance and other types of applications. Equifax's practices of collecting personal information not related to finances led to the congressional hearings and the passage of the FCRA in 1970 and subsequent amendments to the legislation. Consumers can dispute information on Equifax reports on the company's online dispute website.

Experian

Experian is a multinational credit services and marketing company based in Dublin, Ireland, with over 15,000 employees worldwide. Experian North America is based in Costa Mesa, California, and manages the credit reporting services for American consumers and businesses. However, the company's National Consumer Assistance Center in Allen, Texas, handles credit report disputes. Customers can file disputes about information on Experian reports on the company's website. Experian also owns FreeCreditReport.com, a for-profit credit reporting service marketed to consumers. Criticism of the company from the media and consumers focuses on the fact that it sells credit reports that can be obtained for free by law under the FCRA. Experian is a publicly trade company on the London Stock Exchange under the symbol EXPN.

TransUnion

Chicago-based TransUnion LLC is the smallest credit reporting agency. Ownership in the global firm is nearly evenly split between the private-equity firm Madison Dearborn Partners LLC and the members of the Pritzker family. The private equity firm has controlling interest in the company with a 51 percent stake. Over 4,000 people work for TransUnion. The company provides credit reporting services to consumers similar to other leading credit reporting agencies. TransUnion Direct provides resident screening services for rental properties, including credit history reports and criminal background checks. Consumers can dispute erroneous information in TransUnion reports online.