Taking a closer look at the small business credit reporting system

Taking a closer look at the small business credit reporting systemBut just as an error on a credit report can throw an unexpected wrench into the works for an individual consumer, an error on a small business credit report can bring even a well-designed business plan to a grinding halt.

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FTCFTC
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https://www.ftc.gov/business-guidance/blog/2023/03/taking-closer-look-small-business-credit-reporting-systemhttps://www.ftc.gov/business-guidance/blog/2023/03/taking-closer-look-small-business-credit-reporting-system
Retrieved on: 
Tuesday, May 2, 2023
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Fair Credit Reporting Act, Insurance, Small business, Federal Trade Commission Act of 1914, Industry, Bradstreet, D, Face, Federal Trade Commission, Policy, Dun, Record, D&B, Blog, Privacy, Dun & Bradstreet, Equifax, Man, NO, Social Security, Compliance, Machine learning, FTC, Algorithm, Comment, Social, Creditsafe Group, Fraud, Online shopping, Cryptocurrency, Bookkeeping
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Taking a closer look at the small business credit reporting system

    • But just as an error on a credit report can throw an unexpected wrench into the works for an individual consumer, an error on a small business credit report can bring even a well-designed business plan to a grinding halt.
    • The FTC just launched an inquiry into the small business credit reporting system and has some questions for five companies in that industry: Dun & Bradstreet, Experian Information Solutions, Equifax, Ansonia Credit Data, and Creditsafe USA.
    • But there’s no corresponding federal law that specifically outlines the processes and protections available to businesses when it comes to credit reporting.
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