Equifax Inc. said a key financial regulator is investigating how the company handles disputes and data accuracy within a unit that tracks the careers and earnings of workers at millions of businesses across the country.
The credit-reporting company received a civil investigative demand from the Consumer Financial Protection Bureau that requested information about its Workforce Solutions division, Equifax said Tuesday in a regulatory filing. The probe is focused on whether Equifax’s practices comply requirements of the Fair Credit Reporting Act, the company said.
Equifax is cooperating with the probe, along with a different investigation by the agency focused on a “coding issue” inside legacy servers that the company is migrating to cloud-computing technology. That previously disclosed issue temporarily impacted how some credit scores were calculated during a brief period last year.
Equifax’s Workforce Solutions division allows users to verify different pieces of consumers’ data, including their income, employment, educational history and any criminal background. The unit also has operations in Canada, Australia and the UK.
