Equifax, Fair Isaac Call Off FICO War

Atlanta-based Equifax and Minneapolis-based Fair Isaac have ended their war over FICO 08 and VantageScore. When FICO 08 was introduced earlier this year, Equifax said it was not ready to support the product because Fair Isaac was suing it over VantageScore. But the two companies in a joint statement said they are now forming a partnership to develop and sell advanced analytics and scoring solutions for businesses and consumers. The statement goes on to say they are working together to accelerate the testing and roll-out of the FICO 08 model for Equifax customers. Finally, Fair Isaac said it will dismiss Equifax as a defendant in the lawsuit against VantageScore LLC and the national credit reporting companies. Richard F. Smith, chairman and chief executive of Equifax, said in the statement, "This new agreement further solidifies our working relationship and allows both companies to provide better solutions to their customers."