Patent ID: 8117101

Claim:
A data processing system adapted for use by a consumer reporting agency to provide consumer credit reports to institutions, said data processing system comprising: a consumer reporting database controlled by said consumer reporting agency, said consumer reporting database configured to store for each of one or more persons having an identity in said consumer reporting database i) an application information file, and ii) an account data file, wherein said application information file for said each of the one or more persons comprises an accumulation of application information records created from application information data collected by institutions, and said account data file for said each of the one or more persons comprises consumer transaction and experience information; a computer controlled by said consumer reporting agency, said computer configured to: electronically receive from an institution a request for a consumer credit report for a consumer, and electronically receive together with said request consumer application information data comprising consumer identification information and all of the financial data of an application form provided by the consumer to the institution when applying for credit; process the transaction and experience information of the consumer's account data file to produce the consumer's credit report; correlate the consumer with one of the one or more persons, create a consumer application information record from the received consumer application information data, and store the consumer application information record in the application information file correlated with the one of the one or more persons; and respond to the request for the consumer credit report by transmitting to the institution the consumer's credit report and all the accumulated application information records of the consumer's application information file for use in determining consumer information credibility through revelation of inconsistencies in the consumer's application information file and for use in determining consumer creditworthiness.