https://en.wikipedia.org/wiki/Credit_bureau#History https://en.wikipedia.org/wiki/Credit_bureau#History "Following the Panic of 1837, the first commercial cred

https://en.wikipedia.org/wiki/Credit_bureau#History https://en.wikipedia.org/wiki/Credit_bureau#History "Following the Panic of 1837, the first commercial credit reporting organizations formed." It only took a financial crisis and 3-year-long depression for people to realize that credit is important.