Consumer Credit Reporting, Credit Bureaus, Credit Scoring, and Related Policy Issues (CRS R44125)

The consumer data industry—generally referred to as credit reporting agencies or credit bureaus—collects and subsequently provides information to firms about the behavior of consumers when they participate in various financial transactions. Firms use consumer information to screen for consumer risks. For example, lenders rely upon credit reports and scores to determine the likelihood that prospective … Read more

Subsidizing Replacement of Motor Vehicles: An Analysis of “Cash for Clunkers” Programs (CRS R46544)

Some Members of Congress have suggested developing a rebate program either to address effects of the 2020 pandemic on the automotive industry, including the temporary closures of all U.S. vehicle manufacturing plants, or as part of a long-range effort to remove older internal combustion vehicles with high greenhouse gas emissions from the roads. Rebates were … Read more

Traditional and Roth Individual Retirement Accounts (IRAs): A Primer (CRS RL34397)

In response to concerns over the adequacy of retirement savings, Congress has created incentives to encourage individuals to save for retirement through a variety of retirement plans. Some retirement plans are employer-sponsored, such as 401(k) plans, and others are established by individual employees, such as Individual Retirement Accounts (IRAs). This report describes the primary features … Read more

Crony Capitalism / Rent-Seeking / Corporate Welfare / Revolving Door (CongressionalGlossary.com)

Crony Capitalism / Rent-Seeking / Corporate Welfare / Revolving Door Corporate welfare refers to subsidies and regulatory protections that lawmakers confer on certain businesses and industries. When considering budget issues, federal policymakers are supposed to have the broad public interest in mind. Unfortunately, that is not how the federal budget process usually works in practice. … Read more

How to Destroy a Hard Drive

When recycling old computers, the hard drive must be destroyed, the data must be deleted or made unreadable so any data on the drive is unreadable and not potentially released into the wild. Many users have personal information on their hard drives, and in many cases they are not even aware of what personal information … Read more