An Overview and History of Credit Reporting

Leading the workshop was a group of executives from TransUnion LLC — Tony Capaldi, group vice president for the eastern region; Dan Brackle, vice president, Philadelphia; and Chet Wiermanski, vice president, analytical services. Headquartered in Chicago, Illinois, TransUnion is a leading global provider of information and decision-processing services, maintaining one of the largest databases of consumer credit information in the world, serving businesses and consumers in the U.S. This paper includes a short history of credit reporting, an overview of the Fair Credit Reporting Act, and a review of credit reporting company markets and uses. Information from the TransUnion workshop is supplemented by additional research.