
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, February 9, 1995                   TAG: 9502100073
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                  LENGTH: Short

EQUIFAX SETTLES WITH FTC OVER ACCURACY, PRIVACY

Equifax Credit Information Services Inc., one of the nation's largest consumer credit reporting agencies, has agreed to settle Federal Trade Commission charges over the accuracy and privacy of its reports.

The FTC had alleged that Equifax violated the Fair Credit Reporting Act by failing to ensure ``the maximum possible accuracy'' of the consumer information it compiles and sells to employers and creditors nationwide.

The commission also alleged that the Atlanta-based company failed to properly reinvestigate information after consumers disputed it and that it illegally issued reports to people who weren't allowed to have them.

A proposed settlement the FTC announced Wednesday would require Equifax to take steps to ensure the accuracy of its information, improve procedures for handling disputes and follow the reporting act's privacy provisions.

The law makes it illegal for consumer reporting agencies to give reports to third parties unless they have a permissible purpose for them, such as reviewing applications for credit, employment or insurance.

The Federal Trade Commission will decide whether to make the agreement final after a 60-day period for public comment.

by CNB