Nationwide specialty consumer reporting agencies are companies that collect and sell personal information on consumers that is used to decide whether to provide consumers credit, insurance, medical care, housing, banking services, utilities, and employment. You have the right to know what the nationwide specialty consumer reporting agencies are saying about you. And you’re entitled to request an annual report, just like with the major consumer reporting companies – Experian, Equifax, and TransUnion.

ABOUT THE NATIONWIDE SPECIALTY CONSUMER REPORTING AGENCIES

There are roughly 400 consumer reporting agencies in the U.S., with three companies dominating the market – Equifax Information Services LLC, Experian Information Solutions Inc., and TransUnion LLC. In addition to the “Big 3” credit reporting bureaus, there are hundreds of other “nationwide specialty consumer reporting agencies” also collect and sell personal consumer information, such as banking histories, health data, medical payments, tenancy, employment, and insurance claims. These specialty credit reporting companies assemble or evaluate a consumer’s personal information, then sell it to third parties. The Consumer Financial Protection Bureau (CFPB) warns consumers that,

“Nationwide specialty consumer reporting agencies focus on certain industries, such as insurance. There are a lot of these companies.”

Consumers have a right to an annual report disclosure (technically known as a “file disclosure”) from the “Big 3” credit reporting bureaus and from the nationwide specialty consumer reporting agencies. Because many creditors make financial decisions and set terms on the basis of information contained in these reports, accuracy is critical.

LAWS REGULATING THE NATIONWIDE SPECIALTY CONSUMER REPORTING AGENCIES

Under the federal Fair Credit Reporting Act (FCRA) and Fair and Accurate Credit Transactions Act (FACTA), consumers have a legal right to dispute the information in these reports and the underlying information these consumer reporting agencies have about them. The consumer reporting agency must then investigate the dispute and correct any inaccuracies it discovers. In November 2012, the Consumer Financial Protection Bureau (CFPB) issued a warning to nationwide specialty consumer reporting agencies, underscoring the obligation of these reporting companies under the law to provide an annual consumer report upon request of the consumer.

“Nationwide specialty consumer reporting agencies can have great influence over a consumer’s tenancy, insurance premiums, or even employment,” said CFPB Director Richard Cordray. “Today, the CFPB is reminding these companies that they must follow the law and provide consumers with easy access to their annual report. If we have reason to believe that companies are not following the law, we will take action.”

Federal law defines nationwide specialty consumer reporting agencies as entities that “compile and maintain files on consumers on a nationwide basis relating to (1) medical records or payments; (2) residential or tenant history; (3) check writing history; (4) employment history; or (5) insurance claims.” 15 U.S.C. § 1681a(x).

LIST OF NATIONWIDE SPECIALTY CONSUMER REPORTING AGENCIES

According to estimates by the CFPB, there are more than 40 nationwide specialty consumer reporting agencies currently collecting and selling personal information for use in credit determinations. The following is a partial, non-complete list of nationwide specialty consumer reporting agencies by industry:

MEDICAL

Medical Information Bureau Inc. (MIB) – Checking Service credit product

Milliman Inc. – IntelliScript credit product

OPTUMInsight Inc. (formerly Ingenix, Inc.) – MedPoint credit product

EMPLOYMENT HISTORY

Equifax Workforce Solutions – The Work Number (TALX)

Accurate Background Inc.

Contemporary Information Corp.

Early Warning Services

EmployeeScreenIQ

First Advantage

GIS

Hire Right

Infocubic

IntelliCorp

LexisNexis Screening Solutions, Inc.

Pre-Employ.com

Trak 1 Technology

Verifications Inc.

CHECK SCREENING / CHECK HISTORY

Chex Systems

Certegy Check Services

Telecheck

PAYDAY LENDING

Factor Trust

Clarity Services

CL Verify Microbuilt

CoreLogic Teletrack

DataX

AUTO AND PROPERTY INSURANCE

Insurance Services Office (ISO) (A Plus Property Reports)

Insurance Information Exchange

LexisNexis CLUE Personal Property Report

LexisNexis CLUE Auto Report

SUPPLEMENTARY / ALTERNATIVE CREDIT REPORTS

CoreScore Credit Report

L2C Inc.

Pay Rent Build Credit (PRBC) / Microbilt

ID Analytics

Innovis

UTILITIES

National Consumer Telecom and Utilities Exchange

RENTAL

CoreLogic SafeRent

LexisNexis Screening Solutions Inc. Resident History Report

Leasing Desk by Real Page Inc.

Tenant Data Services

NATIONAL CREDIT REPORTING COMPANIES (THE “BIG 3”)

Equifax

Experian

TransUnion

MORE INFORMATION ON NATIONWIDE SPECIALTY CONSUMER REPORTING AGENCIES

This is not a full and complete list of all major and nationwide specialty consumer reporting agencies. For more information, consult the Consumer Financial Protection Bureau (CFPB) at www.consumerfinance.gov, the federal agency that holds primary responsibility for regulating consumer protection laws with regards to financial products and services in the United States, including the consumer reporting agencies. Additional information can be found in our archives on “nationwide specialty consumer reporting agencies.”

Federal law defines nationwide specialty consumer reporting agencies as entities that “compile and maintain files on consumers on a nationwide basis relating to (1) medical records or payments; (2) residential or tenant history; (3) check writing history; (4) employment history; or (5) insurance claims.” The Consumer Financial Protection Bureau (CFPB) warns that nationwide specialty consumer reporting agencies can have great influence over a consumer’s tenancy, insurance premiums, or even employment.

You have the right to know what the nationwide specialty consumer reporting agencies are saying about you. For more information, see the List of Nationwide Specialty Consumer Reporting Agencies.