In detail
A nationwide consumer reporting agency is a consumer reporting agency that compiles and maintains files on consumers on a nationwide basis, as defined in the Fair Credit Reporting Act. This definition appears in the FCRA's provisions that require these agencies to provide consumers with a free annual file disclosure upon request. The term is broader than 'credit reporting agency' because a nationwide consumer reporting agency may furnish reports for purposes beyond credit, such as employment, insurance, or tenant screening, though the largest and most well-known examples are the three national credit reporting companies that assemble credit history data. The FCRA imposes specific duties on nationwide consumer reporting agencies, including the obligation to provide a free annual file disclosure, to maintain reasonable procedures to assure maximum possible accuracy of the information they report, and to investigate consumer disputes. These agencies also must comply with other federal and state laws, such as the California Consumer Privacy Act, where applicable. Consumers have the right to obtain their file disclosures and to dispute incomplete or inaccurate information directly with the agency. It is important to distinguish a nationwide consumer reporting agency from a regional or specialized consumer reporting agency. While all nationwide consumer reporting agencies are consumer reporting agencies, not all consumer reporting agencies operate nationwide. The term often appears in legal and regulatory contexts to identify entities subject to the FCRA's nationwide file disclosure requirements. A consumer report issued by such an agency may be used by lenders, employers, insurers, and landlords when evaluating applications.