Equifax pressured by lawmakers to explain — and fix — faulty credit scores
CBSN
Congressional lawmakers are pressing Equifax to explain how the credit bureau misreported hundreds of thousands of Americans' credit scores, and how it plans to make up for the error.
Reports from the Wall Street Journal and National Mortgage Professional revealed that, over a three-week period this spring, Equifax sent out incorrect scores for consumers applying for mortgages, auto loans and credit cards. Equifax has said that it resolved the problem, which it attributed to a software coding issue, on April 6 and that only a small number of people were affected. But the company has not released any more details on the incident.
In a letter on Friday to Equifax CEO Mark Begor, two senators and a House member took him to task for the company's silence.
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