The Justice Department has opened an antitrust investigation into Fair Isaac, the financial company whose credit scores underlie nearly all U.S. consumer credit decisions
, according to information obtained by POLITICO.
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.The exact scope of the DOJ’s antitrust investigation isn’t yet known.
In 2006, Experian, Equifax and TransUnion introduced their own credit scoring model, known as VantageScore. Fair Isaac sued the three agencies for antitrust violations, but a court later
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