Who or what is federal credit bureau?

A federal credit bureau, often referred to as a credit reporting agency, is an organization that collects and maintains consumer credit information, which it uses to create credit reports. These reports are utilized by lenders to assess an individual's creditworthiness when applying for loans or credit. In the United States, the three major federal credit bureaus are Equifax, Experian, and TransUnion. They play a crucial role in the financial system by helping to facilitate borrowing and lending processes.