00:01
So here the answer is a credit bureau, but if you want to be more sort of details, i'll walk you through the details as well.
00:10
First of all, the bureau of consumer protection is a government agency for legal protection, right? it is a regulator.
00:21
It creates laws and rules and regulations that govern conduct of financial entities, right? it's like a branch of government that comes up with the rules of the game for financial products that consumers might buy and sell.
00:36
So it has nothing about no individual information here, just laws, rules, regulations.
00:43
So it wouldn't know anything about martha in particular.
00:48
The role here for martha is a credit bureau, which is a private company that maintains credit records.
00:57
Right and since it has credit maintains credit records it collects and accumulates information on people that means that the lender can get a sense of whether martha is a trustworthy borrower or not by consulting the credit bureau the federal deposit insurance corporation is to protect consumers from failing banks right so the idea is that the bank has your money if the bank goes out of business, you should get your money back...