The <u>Federal Reserve</u> is not a credit reporting agency. This also implies the correct answer is D.
The Federal Reserve is the America central bank while a credit reporting agency refers to a business that keeps individuals or businesses credit information. The top credit reporting agencies include Equifax, Transunion, and Experian
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Further Explanation</h2>
Federal Reserve is considered the most powerful sector in the US; it is a major player in controls of the world money.
The Federal Reserve is comprised of two components, which include
- The board of governors
- The federal open market committee
The functions performed by the board of governors include
- It sets reserve requirement for banks
- It has a total of 7 members
- It controls monetary policy
- It sets the discount rate
The federal open market committee performs the following functions:
- It controls the operation of the open market
- It set the target for fed fund rate
In General, the Federal Reserve System has some core functions and these include:
- It controls the affairs of the banking
- It manages inflation
However, some of the functions of credit reporting agencies include:
- Maintaining credit information
- They give credit report
- They also calculate credit scores.
The three largest credit reporting agencies include
- Equifax
- Transunion
- Experian
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KEYWORDS:
- credit scores
- agencies
- federal reserves
- banks
- united states
