Sen. Josh Hawley (R-MO) has launched an investigation into Fair Isaac Corp. (NYSE:FICO) over the company’s pricing of credit scoring in the mortgage market.
On Monday, Hawley sent a letter to FICO announcing his intent to scrutinize the company’s recent price increases for credit scores. The Missouri senator also called on the Federal Trade Commission (FTC) to launch a parallel investigation.
In his letter, Hawley argued that the escalating cost of credit scores is placing an undue burden on homebuyers in an already inflated market.
“These price increases are most damaging to the Americans who can least afford them. First-time homebuyers bear a disproportionate burden of the cost,” he stated.
Hawley has requested documents from FICO as part of an investigation that could expand into a broader probe of potentially anticompetitive practices in …
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