| Topics and Issues | Credit scores (37) |
In March 2024, U.S. Sen. Josh Hawley (R-MO) wrote to the U.S. Department of Justice asking Assistant Attorney General Jonathan Kanter to investigate “The Fair Isaac Corporation’s (FICO) potentially anticompetitive practices.” Hawley said that “[I]n an apparent abuse of this market power, FICO has astronomically hiked its prices these cost increases will be borne by homebuyers who are already facing the worst housing market in this country’s history. […] This is, in short, a company abusing its market power to pad its bottom line and make life worse for Americans. It is time for the Antitrust Division to step in and investigate.”
Shortly after the Sen. Hawley letter, FICO posted a blog, FICO’s Adoption and Pricing in the Mortgage Origination Market.