Now we begin section two looking at the Fair Credit Reporting Act. There are many types of consumer reporting agencies including credit bureaus and specialty agencies. The well known are the three major credit bureaus Experian, which is the largest Equifax, which is the oldest and TransUnion. There are others also. In total, according to the Consumer Financial Protection Bureau out of the Federal Trade Commission, there are a total of 43 different consumer reporting agencies. Experian, Equifax, and TransUnion are non government agencies, and exist for profit.

Now, the Federal Fair Credit Reporting Act was enacted on October 26 1970. To promote the truth, justice and privacy of information was in the files of consumer reporting organizations