Equifax Inc. is facing a Consumer Financial Protection Bureau investigation over a coding issue that resulted in lenders receiving incorrect credit scores and consumers dealing with loan denials and higher interest rates.
The CFPB sent Atlanta-based Equifax a civil investigative demand in January seeking more information into the now-fixed coding problems, the credit reporting company said in a Thursday securities filing.
Equifax revealed the problems in August 2022. A coding issue linked to the migration to a new Equifax Cloud infrastructure caused the problem during a three-week period between March and April of 2022, the company said last year.
The ...
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