Menu 9.4 - Credit Reporting

This section contains information regarding reporting accounts and responsible parties to credit reporting agencies by The Collector System. To set up credit reporting, see Menu 10.1.4 - Credit Reporting.

The credit reporting process involves submitting a file in Metro 2 data format to the nationally recognized credit reporting agencies: Experian, Equifax, TransUnion, and Innovis. The reporting feature currently supports only the U.S. market.

The federal government highly regulates the reporting of consumer data to credit reporting agencies, and the Consumer Data Industry Association (CDIA) has published a number of guidelines to help agencies meet these regulations. One of their primary publications, the Credit Reporting Resource Guide (CRRG), was a key reference in the design specifications for The Collector System. Finvi also incorporated feedback from the CDIA's task force; this task force consists of representatives from each of the aforementioned credit reporting agencies. The CDIA publishes the CRRG annually and includes updates that address new or changed laws and best practices.