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A person's credit report is one of the most important tools consumers can use to maintain their financial security and credit rating, but for so long many did not know how to obtain one, or what to do with the information it provided.

Your credit report should be 100% accurate, so make sure everything is entirely correct. If something doesn't look right, dispute it.

Giving credit where credit is due is a very rewarding habit to form. Its rewards are inestimable.

By the time most people file for bankruptcy, their credit is already trashed, they have a high debt-to-income ratio - a key indicator lenders look at - and they've likely defaulted on more than a few accounts.

The broken consumer credit market had to be repaired by making sure that consumers had the right information and could use it effectively. That meant consolidating the bloated patchwork of ineffective agencies and regulations so that a single agency could act as a voice for consumers.

It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.

The failure of credit markets is one of the major reasons for underdevelopment.

In the business world, we can point to instances when a lack of integrity has bankrupted entire companies - in sectors as different as finance, telecommunications, manufacturing, and energy.

Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Minnesotans lost their jobs because the credit rating agencies didn't do the only job they're supposed to have, the only job they had, which is to give accurate, objective ratings to financial products.