Equifax Hit with Antitrust Class Action over Work Verification Services

Data analytics giant Equifax has been accused by a pair of home mortgage lenders of monopolizing the market for electronic income and employment verification services, leading to higher prices.

Greystone Mortgage and First Financial Lending filed the proposed class action in Philadelphia federal court on Tuesday, alleging Equifax had a “stranglehold” over a verification process that is a critical part of consumer finance.

“Equifax Hit with Antitrust Class Action over Work Verification Services” appeared on Reuters.com on May 29, 2024.