The Federal Reserve posted a new guide that explains credit scores and credit reports. The new consumer credit guide talks about the following.
•    What is  a credit report
•    Why is  a credit report important
•    Who collects and reports your credit information
•    Where do credit bureaus get their information
•    How you can get a free copy of your credit report
•    Who is allowed to see your credit report?
•    Do the credit bureaus decide whether to grant you credit?
•    How long does negative information stay on your credit report?

•    5 tips for improving your credit score

I was impressed with the guide because its easy for the average consumer to read and understand.

Here is the Credit Reports and Credit Scores guide.