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Fair Isaac Sues Credit Reporting Companies
Posted on Oct 12, 2006 by Tom Fragala
This should be fun. Fair Isaac decides it doesn’t like that the credit bureaus are launching their own credit scoring system, calling it “unfair practices.” Fair Isaac also claims their scoring system violates its trademarked numbering scheme. No question people would be confused, if VantageScore ever gets adopted. I’m not wading into this battle just yet though.
Dow Jones (via WSJ) reports
Fair Isaac Corp. (FIC) said Thursday it filed an antitrust lawsuit against three national credit-reporting agencies and a jointly owned entity over their recently launched proprietary credit-scoring model.
In the lawsuit filed in Minneapolis federal court, Fair Isaac, a San Rafael, Calif., credit-scoring company, claims Equifax Inc. (EFX), Experian Information Solutions Inc. and Trans Union LLC are engaging in unfair practices by marketing their own, jointly developed credit-scoring model through VantageScore Solutions LLC.
Filed under: Credit
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