Question

All of the following make up the big three credit reporting agencies EXCEPT:

Answer 1

The Federal Reserve 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

Further Explanation

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

1. The board of governors
2. 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

1. Equifax
2. Transunion
3. Experian

LEARN MORE:

• credit scores brainly.com/question/1297234
• credit reporting agencies brainly.com/question/5637468

KEYWORDS:

• credit scores
• agencies
• federal reserves
• banks
• united states

Answer 2

The Federal Reserve is not a credit reporting agency. It is the main banking system in America, created in the 1910s. Credit reporting agencies work with banks such as the Federal Reserve to help the bank - or another type of business - decide whether a person they lend money to will be able to pay it back.