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Investigations  /  05.29.2020

Investigation of Fair Isaac Corporation

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Fair Isaac Corporation (FICO) Accused of Antitrust Business Practices

For roughly three decades, Fair Isaac has maintained a monopoly over the B2B Credit Score Market in the United States, largely through the unlawfully achieved dominance of its FICO product line.  Fair Isaac advertises its monopoly in the B2B Credit Score Market stating that 10 billion FICO scores are sold each year and 90% of all lending decisions in the United States rely on FICO scores, giving the Company the power to control prices. Fair Isaac has also entered into anticompetitive agreements with credit bureaus that restrict their ability to develop or sell other credit scores. These agreements, and Fair Isaac’s monopoly and stronghold in the banking industry, have stymied attempts to compete with Fair Isaac, resulting in a disproportionate number of low-income and minority consumers being denied access to credit by Fair Isaac’s traditional FICO scoring system and has forced consumers to pay higher prices for credit reports. As a result, on March 15, 2020, Fair Isaac revealed that the Antitrust Division of the U.S. Department of Justice had opened an investigation in its conduct. The lawsuit could result in substantial damages to Fair Isaac causing depletion of its financial resources and harm to shareholders.

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