Uthmeier questions FICO about anticompetitive practices

Florida Attorney General James Uthmeier has issued a civil investigative demand to Fair Isaac Corporation seeking the production of comprehensive documents and answers to questions to determine whether FICO has engaged in anticompetitive conduct in violation of the Florida Antitrust Act.

“Floridians deserve fair access to credit—not a system controlled by one company that repeatedly jacks up prices and blocks competition,” Uthmeier said. “These skyrocketing costs are passed directly to consumers, making it harder for families to buy homes, finance cars and secure essential services.

“My office will not tolerate monopoly abuse that harms Florida families.”

FICO issues about 27 million credit scores daily and its scores are used in over 90% of U.S. lending decisions. The company’s practices fundamentally shape how Floridians purchase homes and cars and access essential services including banking, insurance, telecom, and utilities.

For decades, FICO has maintained a monopoly in the business-to-bus...