In the latest development concerning allegations that Fair Isaac Corp. monopolizes the credit scoring market, an Illinois federal court dismissed certain claims while allowing the antitrust ones to persist. FICO, widely known as the leading credit score provider, found its legal woes further entrenched by this recent court decision.
The court rebuffed any attempt to dismiss claims that FICO held monopolistic practices in the credit scoring market. These claims raise serious questions about competition and business ethics within the financing and credit rating sectors.
However, while FICO did not manage to completely sidestep the legal pendulum, the major credit bureaus encountered a different court outcome. The federal court found merit in allowing the credit bureaus to bypass claims that they had conspired with FICO to insulate themselves, thereby throwing a lifeline to these major industry players.
More details about this case and its repercussions can be found on
law360.com.