U.S. Senator Josh Hawley has taken action by sending a letter to the Department of Justice, calling for an investigation into Fair Isaac Corp. (FICO). This move comes after concerns have been raised regarding the practices of the major player in the credit scoring industry.
Key points from the letter include:
– Senator Hawley requests a thorough investigation into FICO’s practices
– The letter raises questions about the accuracy and fairness of FICO’s credit scoring algorithms
– Concerns have been expressed about the potential impact of FICO’s practices on consumers and the overall economy.
The call for an investigation into FICO by Senator Hawley highlights the ongoing scrutiny of the credit scoring industry and the need for transparency and accountability in the mortgage and financial sectors. Investors and consumers alike will be watching closely as developments unfold in this important investigation.
You can read this full article at: https://www.housingwire.com/articles/senator-urges-doj-to-investigate-fico-over-increasing-costs-to-mortgage-lenders/(subscription required)
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