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Fair Isaac Responds To Antitrust Probe

 |  March 16, 2020

FICO intends to cooperate with the Department of Justice (DOJ) after being notified by the regulatory body’s antitrust division related to “potential exclusionary conduct.”

“FICO is confident the Department will conclude that it has not engaged in any exclusionary conduct,” the company said in a statement Sunday, March 15, adding that it was confident the DOJ will find the claims against the company to be without merit.

The statement comes in response to reports that FICO was being investigated for its competitive position in the consumer credit market. The probe follows years of complaints from rivals about Fair Isaac’s dominance, and comes amid efforts by Congress and financial regulators to inject more competition into the credit score market. Fair Isaac’s FICO scores are a measure of risk that banks and credit card companies use to make lending decisions, and are used by Fannie Mae and Freddie Mac to determine creditworthiness of mortgage applicants.

Full Content: Seeking Alpha

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