trending Market Intelligence /marketintelligence/en/news-insights/trending/ame0ew-zu_k1rcx1939u9w2 content esgSubNav
In This List

Australian regulator sues Equifax unit for allegedly misleading consumers

Blog

Fintech Intelligence Digital Newsletter: May 2021

Podcast

Street Talk Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Street Talk – Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Fintech Intelligence Digital Newsletter: April 2021


Australian regulator sues Equifax unit for allegedly misleading consumers

The Australian Competition and Consumer Commission sued Equifax Pty Ltd., a unit of Equifax Inc., in the Federal Court for allegedly "misleading" consumers and using "unfair tactics and undue pressure when dealing with people in financial hardship."

The regulator claimed that from June 2013 to March 2017, Equifax made a range of false or misleading representations to consumers, including that its paid credit reports were more comprehensive than the free reports, when they were not.

Equifax also allegedly told consumers to buy credit reporting packages for it to correct information held about them, or to do so quicker.

Equifax Asia Pacific Managing Director Mike Cutter said in an email to Reuters that the company had cooperated with the regulator's investigation and was reviewing the allegations.