Which entity is primarily responsible for maintaining credit information?

Credit bureaus are the entities primarily responsible for maintaining credit information. They collect and store consumer credit data, which includes payment histories, credit accounts, and other relevant financial behaviors. This information is used to create credit reports that lenders utilize to assess a borrower's creditworthiness when applying for loans, credit cards, or mortgages.

Credit bureaus play a crucial role in the financial system by providing lenders with accurate and comprehensive data, thereby facilitating informed lending decisions. Their reporting is also vital for consumers, as it directly affects their ability to obtain credit and the terms offered.

While financial advisors, investment firms, and regulatory agencies have important functions within the financial industry, they do not maintain credit information as their primary role. Financial advisors typically work on individual financial planning, investment firms focus on asset management, and regulatory agencies oversee compliance and regulations but do not collect or manage credit data.