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Equifax Charged With Credit Reporting Violations

April 30, 2004

Edmonton... Equifax Canada Inc. faces nine charges under the province's Fair Trading Act for violating the credit-reporting provisions of the act in its dealings with Alberta consumers.

Equifax is charged with failing to adopt reasonable procedures to ensure fair and accurate content in its reports, and for including unfavourable personal information on a report without substantiating evidence.

Alberta Government Services laid the charges after investigating allegations the company had not corrected consumer information when requested to do so. Since 1999, the department has received 52 consumer complaints involving the company, several for incorrect information on their files. As a result, some consumers reported they were unable to obtain credit or mortgages. Credit files are also used to make decisions about employment, renting apartments and issuing insurance policies.

The Fair Trading Act regulates who can access credit reports, the contents of reports and the procedures for correcting errors. Penalties under the Fair Trading Act include fines of up to $100,000 or up to three times the amount obtained by the offence and/or up to two years in prison.

For information on what can be included in and released from your credit file under the Fair Trading Act, consumers can access a tipsheet called Credit and Personal Reporting at www.gov.ab.ca/gs under Forms, Publications and Tipsheets, or they can call the department's Consumer Information Centre toll-free at 1-877-427-4088.

Although Equifax is a company that operates across Canada, it must comply with Alberta's Fair Trading Act when maintaining credit reports on Alberta residents.

Terry Cunha
Communications
Alberta Government Services
(780) 415-6051