October 31, 1996 |
A leading credit information service is offering lenders a way to gauge loan risk by considering where borrowers live as well as how promptly they pay their bills, an approach that raises red flags for consumer groups. Equifax Inc. said its Bankruptcy Navigator system, introduced Wednesday, will give banks and other lenders one more tool to determine if they should charge higher interest, offer pre-approved credit cards, adjust lending limits or extend credit at all in areas with low ratings.
September 5, 1996 |
CDB Infotek, a fast-growing Santa Ana-based public data firm used by lawyers, police, researchers and insurance and government agencies, has sold a 70% stake to a subsidiary of Atlanta-based information giant Equifax Inc. CDB, which has 200 employees, will retain its name, management and Orange County headquarters, and is expected to use the funding provided by Equifax Insurance Services to finance future growth. The company said no layoffs are anticipated.
February 9, 1995 |
Equifax Credit Information Services Inc., one of the largest credit-reporting agencies, has agreed to settle a complaint alleging that it failed to protect the accuracy and confidentiality of consumer credit records. In the settlement with the Federal Trade Commission, Equifax admitted no wrongdoing, but it agreed to make changes in the way it deals with disputed credit information.
July 1, 1992 |
Atlanta-based Equifax, one of the nation's largest credit reporting agencies, agreed Tuesday to improve the accuracy and protect the privacy of information contained in consumer credit reports. Equifax, which will pay $150,000 in "investigation costs" to 18 state attorneys general as part of the deal, said it will also provide consumers with easy-to-read copies of their own credit reports for no more than $8.
August 9, 1991 |
Citing concern over consumer privacy, one of the nation's largest credit-reporting agencies said Thursday that it would stop renting mailing lists to direct marketers. Atlanta-based Equifax Inc., which has been under pressure from the New York attorney general to stop the practice, admitted the move probably won't slow the flow of junk mail solicitations. But Equifax said it made the decision--which will cost the company $11.5 million each year--to foster better customer relations.
August 7, 1991 |
A Newport Beach lawyer amended a pair of class-action lawsuits Tuesday against TRW Inc. and the nation's other two leading credit bureaus, alleging that the companies violated state laws aimed at making it easy for consumers to obtain their credit reports and to fix errors. Gregory Sullivan filed the two companion suits in Orange County Superior Court on behalf of a former Orange County resident who alleges that he was the victim of credit bureau mistakes. One suit deals with William A.
July 22, 1991 |
A credit card scam left Bonnie Guiton feeling that she had been victimized twice--first by forgers and then by one of the nation's largest credit bureaus, TRW Credit Data Division. Canceling the forged Visa card and having $5,000 in fraudulent charges erased was simple enough, but she says her anger flared anew when she found that the incident had ruined her TRW credit report. "Why should the consumer have the responsibility of smoking out all the credit bureaus?" Guiton asks.