PRBC is a consumer credit reporting agency, more commonly referred to as a credit bureau in the United States. It is similar to the 3 most well known U.S. credit bureaus (Equifax, Experian, and TransUnion and the lesser-known 4th, Innovis) in that it is an FCRA (Fair Credit Reporting Act) compliant national data repository. However, PRBC differs in a few distinct ways. Consumers are able to self-enroll and report their own non-debt payment history to PRBC. They can build a positive credit file based on alternative data, such as timely payments for bills such as rent, utilities, cable, telephone, and insurance that are not automatically reported to the other bureaus.
In 2005 and 2006, the National Credit Reporting Association (NCRA) and the National Association of Mortgage Brokers (NAMB) announced separate agreements with PRBC to help educate consumers how to document their creditworthiness by building a credit history based on their non-debt recurring payments.
In November 2006, PRBC received a patent from the United States Patent and Trademark Office for the company's technology and method for collecting data on commonly recurring bill payments made by individuals and small businesses, and incorporating them in a credit file, credit report, and credit score.
In December 2006, Fannie Mae and Freddie Mac acknowledged that PRBC Reports comply with standards for establishing the credit reputations of borrowers for loans that can be sold to them.
In March 2007, mortgage insurer Mortgage Guaranty Insurance Corporation (MGIC) announced an agreement to use PRBC Reports with PRBC Bill Payment Score (BPS) to automate their approval decisions for consumers with "thin" or no traditional credit histories.
At the end of 2007, Fair Isaac and PRBC announced a partnership to deliver PRBC Credit Report with FICO Expansion Score, a comprehensive credit risk management tool that U.S. mortgage lenders can use when assessing the risk of applicants who have little or no traditional credit history.