Credit bureaus collect and maintain financial data on consumers, including their borrowing and repayment history. They use this information to calculate credit scores, which predict an individual's likelihood of repaying debts on time. Lenders and creditors rely on credit reports and scores provided by credit bureaus to assess creditworthiness and make lending decisions. The accuracy of credit reports can be verified by individuals, who have the right to review their reports and file disputes for corrections. Overall, credit bureaus play a vital role in facilitating fair access to credit for consumers.