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R-Mo. Sen. Josh Hawley is urging President Donald Trump’s Justice Department to investigate domestic credit bureau companies for abuse of “monopoly” on the industry.
Fair Isaac Corporation (FICO) has repeatedly raised prices in recent years, securing massive profits while mostly facing competition, Holy wrote to Attorney General Aide Gail Slater on Friday, adding that former President Joe Biden’s administration ignored his previous calls for oversight.
“FICO dominates the inter-business credit scoring market with approximately 90% market share, enjoying federal lovers contracts that require credit scores for loans sent by multiple government agencies.
“FICO exploited working Americans with their exclusive power for too long,” he added to Slater, who runs the antitrust division of DOJ. “Anti-trust scrutiny from your office is guaranteed.”
Buy Now, Pay Later: “Tickets to OverExpenses” Experts Say
R-Mo. Sen. Josh Hawley is calling on President Donald Trump’s administration to launch an antitrust investigation into the country’s top credit scoring companies. (Tom Williams Pool / Getty Images / Getty Images)
FICO did not immediately respond to requests for comment from Fox News Digital about potential investigations.
Experts warn you of hidden risks of buying now and pay later
Holy’s demand comes weeks after the Trump administration filed its first anti-trust lawsuit, and is about to block a big tech acquisition.
The co-host of “The Big Money Show” will discuss buying now and pay for later spending options and their impact on current credit scores.
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The action is about to block Hewlett-Packard Enterprise from acquiring rival wireless local area network provider Juniper Networks in a $14 billion deal.
