Equifax Consumer Services LLC - Class Action Settlement in Hillis v. Equifax Consumer Services, Inc. and Fair Isaac Corporation

Interesting news with Equifax….

Quoted from Equifax;

“As you may be aware, Equifax Consumer Services LLC has entered into a class action settlement in Hillis v. Equifax Consumer Services, Inc. and Fair Isaac Corporation (“the Hillis lawsuit”). The Hillis lawsuit alleged that Equifax failed to comply with the Credit Repair Organization Act (“CROA”) in connection with its offering of certain direct-to-consumer credit information products.”

 ”Equifax and our co-defendant, Fair Isaac Corporation, made the strategic and business decision to resolve the Hillis litigation in a class action settlement.”

“One of the provisions in the Hillis settlement agreement requires Equifax and Fair Isaac to implement certain injunctive relief terms. These injunctive relief terms primarily address some statements and phrases that Equifax and Fair Isaac cannot use in describing our products.”

 ”Injunctive relief terms applicable to Contractual Associates:

1. Offerings and Associated Literature must not use the following terms: “improve,” “enhance,” “boost,” “raise” and “increase” in the same phrase as “score” or “rating”.

2. Offerings and Associated Literature must not use the phrases “credit repair,” “credit rebuilding,” “credit fix,” “repair your credit,” “fix your credit” or combinations of those words.

3. Offerings and Associated Literature must not use the terms “advice”, “tips”, “suggestions” and “instructions” in the same phrase as “improving,” “enhancing,” boosting,” “raising” and “increasing” a credit score or credit rating.

4. Offerings and Associated Literature that refer to the Score Simulator must add an explanation regarding the general nature of the simulated score associated with the Score Simulator, and must not suggest that the simulated score is “always” (or its equivalent) predictive of one’s actual score.”
Equifax has never been a credit repair, credit score boosting organization. Although many people believe they do offer these types of services

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Credit Expert
Frank Bruno