U.S. Sen. Josh Hawley (R-Mo.) has sent a letter to the U.S. Department of Justice‘s Antitrust Division, urging an investigation of Fair Isaac Corp. (FICO), the company that retains the rights to the mortgage market’s adopted methodology to measure consumer credit risk.
The letter, dated March 12 and addressed to assistant attorney general Jonathan Kanter, states that FICO “appears to be using its monopolistic power over the credit scoring market to increase costs for mortgage lenders – an increase that will be passed on to consumers.” Hawley demanded that the DOJ “investigate the company for these anticompetitive practices.”
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