You probably haven’t thought about Equifax since that massive data breach years ago, but they’ve been making a lot of noise lately. And honestly, most of it is going to hit your wallet if you’re trying to buy a house or a car this year.
Equifax in the news is currently dominated by a massive tug-of-war over how much your credit data should cost. While the company is busy settling old scores with the government, it’s also hiking prices in a way that has federal regulators breathing down its neck.
Just this month, Federal Housing Finance Agency (FHFA) Director Bill Pulte went on the record basically saying he’s "confused" by what the credit bureaus are doing with their pricing. He didn't mince words. He said they are inviting a level of scrutiny that is "intensifying by the day."
Why does this matter to you? Because mortgage lenders are seeing their costs for credit reports jump by 40% to 50%. Usually, those costs get passed right down to the person signing the mortgage papers. That’s you.
The $15 Million Reality Check
Back in January 2025, the Consumer Financial Protection Bureau (CFPB) dropped a hammer on Equifax. They ordered the company to pay $15 million.
The issue wasn't just a technical glitch. The CFPB found that Equifax was basically failing at its core job: investigating when people said their credit reports were wrong.
Imagine finding a mistake on your report—maybe a debt you already paid or a loan that isn't even yours—and the company responsible for fixing it just... doesn't. The Bureau found that Equifax used "ineffective systems" and gave way too much "excessive deference" to the banks and lenders (the furnishers) instead of actually checking if the consumer was right.
They also got caught re-inserting information that had already been deleted. Talk about a ghost in the machine.
The Great Credit Score Price War of 2026
There’s a bit of a "monopoly" vibe happening in the industry right now, according to critics. FICO is hiking its prices to $10 per score this year.
Equifax is trying to play both sides. On one hand, they’re pushing VantageScore 4.0 as a cheaper alternative. They’ve priced it at $4.50—less than half of what FICO wants.
They are even giving it away for free to some lenders through the end of 2026 if they also buy FICO scores. It sounds like a deal, right? But the Mortgage Bankers Association isn't buying it. They are pushing for the "tri-merge" requirement to be killed off entirely.
Right now, if you want a mortgage through Fannie Mae or Freddie Mac, you usually have to get reports from all three big bureaus. The MBA wants that changed so that if you have a score over 700, they only have to pull one report. That would save people a lot of money, but it would also eat a huge chunk of Equifax's revenue.
AI is Reading Your Bank Account Now
Equifax is leaning hard into something they call Amplify AI. It sounds like corporate jargon, but it’s actually changing how you get approved for credit.
They are moving away from just looking at whether you paid your credit card on time in 1998. Instead, they are looking at "trended data."
- They want to see your utility payments.
- They are looking at your rent history.
- They are checking your cell phone bill consistency.
The goal is to score the "unscorable"—the 33 million or so Americans who don't have enough of a traditional credit history to get a loan. In theory, this is great. In practice, it means the "Work Number" (their massive employment and income database) is now being used to verify your job status almost instantly during the mortgage process.
💡 You might also like: Disney Customer Service: What Most Companies Get Completely Wrong
What’s Left of the 2017 Breach?
Believe it or not, the settlement from that 2017 breach is still active. The settlement administrator was still mailing out prepaid cards and final payments as recently as late 2024.
If you were one of the 147 million people affected, you still have access to free identity restoration services until January 2029. You don't even have to have filed a claim back in the day to use this. If someone steals your identity because of that breach, Equifax still has to help you fix it for the next few years.
Is the Stock in Trouble?
Investors are getting a little twitchy. Early in January 2026, Equifax’s stock (EFX) took a hit after the FHFA criticism.
Analysts at firms like TD Cowen are watching closely because if the government decides to force a "one-report" rule instead of the "tri-merge," Equifax’s earnings could take a nosedive. Some big institutional investors, like Mar Vista Investment Partners, have already started pulling out, citing concerns about "profitability strains."
The company is projecting $7.8 billion in revenue by 2028, but that assumes the current system stays exactly as it is.
Steps You Should Take Today
The landscape is shifting, and "business as usual" for your credit score is over. Here is how you should handle the current Equifax situation:
1. Dispute every single error. Since the CFPB is breathing down their necks over failed investigations, now is actually the best time to be aggressive with disputes. They are under a microscope. Use the official portal to file your claims and keep a paper trail.
2. Check your "Work Number" data. Most people don't realize Equifax probably has a record of every paycheck you've received. You can request your own "Employment Data Report" from The Work Number to make sure your salary and job titles are actually correct before you apply for a loan.
3. Opt-in to alternative data. If your score is on the edge, look for lenders that use OneScore or VantageScore 4.0. These models are more likely to count your on-time rent and Netflix payments, which could give you the 20-point bump you need for a better interest rate.
✨ Don't miss: rmb 50 to usd: Why This Small Note Is More Than Just Change
4. Use the free identity restoration. If you get a notification that your data was leaked (again), don't pay for a service. Check the FTC's Equifax page to see if you qualify for the free restoration services that run through 2029.
5. Demand a credit report fee breakdown. When you apply for a mortgage, ask your lender for the specific line item for the credit report. If it's over $150, ask why. With the current debate over "junk fees" in Washington, some lenders are more willing to explain or negotiate these costs.