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.
Scoring Rationale
Official product launch with strong applicability to lenders, but modest novelty beyond existing fraud-detection offerings.
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Sources
- Read OriginalEquifax Launches Product That Detects First-Party Fraudpymnts.com
