Equifax Launches Credit Abuse Risk Model For Lenders

Equifax on Jan. 30 launched the Credit Abuse Risk model, a machine-learning product to detect first-party fraud such as loan stacking and credit washing. The model uses behavioral insights and Fair Credit Reporting Act (FCRA) data to generate FCRA-compliant scores and adverse-action reason codes during prequalification, account origination, and portfolio review. It integrates with Equifax’s Synthetic Identity Risk tool to improve identity legitimacy and repayment risk assessment.