Equifax Inc. and Fair Isaac Corp. have agreed to market new FICO score analytic products jointly, ending a legal dispute.
Fair Isaac filed a lawsuit in 2006 against VantageScore Solutions LLC, a joint venture of the three major bureaus: Equifax, Experian Information Solutions Inc., and TransUnion LLC. The suit accused the bureaus of anticompetitive practices.
Equifax said last year that it would not implement Fair Isaac's new credit scoring system, FICO 08, until the litigation was resolved. On Tuesday, Equifax said it is working to accelerate the rollout of FICO 08 for its customers.
"This new agreement further solidifies our working relationship and allows both companies to provide better solutions to their customers," Richard F. Smith, Equifax's chairman and chief executive, said in a press release.
