To use this feature, use a newer browser. [53][54], On September 7, 2017, the same day as Equifax announced a large security breach, Equifax removed its official mobile apps from the Apple App Store and from Google Play. The following day, a class-action lawsuit was filed by Jacksonville, Florida resident Nydia Jenkins against Equifax alleging she had received a "substantially pricier car loan" (resulting in an additional loan payment of $2,352 more per year) due to Equifax reporting her credit score 130 points off from what it should have been. Woolford's former estate in Druid Hills is now the site of the Frazer Center and the Cator Woolford Gardens. Remove advertising from a memorial by sponsoring it for just $5. Please enter your email and password to sign in. As of April 2023, The net worth of Equifax is estimated to be $5 billion. Copyright 2018 Key Credit Repair. [77][78] A Heartland Bank spokesperson said the bank "immediately investigated and contacted the credit reporting agencies after Haman reported" she was still alive. This number contains a $380,500,000 consumer restitution fund, part of the class action lawsuit. Are you sure that you want to report this flower to administrators as offensive or abusive? Revenues had reached a record $1.62 billion by 1998, but the outlook was somewhat clouded by the economic uncertainties that had begun with the Asian financial crisis of 1997. Three years later, Retail Credit ran afoul of the new federal regulations and was charged with violating the Fair Credit Reporting Act and the Federal Trade Commission Act. Founder of the Retail Credit Company of Atlanta, Ga., now Equifax, one of the three major credit-rating agencies in the US. The following year the company also opened a branch office in Cincinnati. 1899: The Woolfords moved to Atlanta with the goal of making credit reporting their new career. The company was founded by Cator Woolford and Guy Woolford in 1899 and is headquartered in Atlanta, GA. Read More Today's Range Now: $198.53 $197.52 $199.67 50 Day Range MA: $205.27 $193.14 $230.65 2 Week Range Now: $198.53 $145.98 $234.14 Volume 86,944 shs Average Volume 775,271 shs Market Capitalization $24.46 billion P/E Ratio 35.14 In a ten-year period, 104 smaller credit bureaus had been added to the Equifax network alone. Verify and try again. 28. In the late 1920s Cator Woolford befriended Franklin D. Roosevelt when the future president began visiting Warm Springs, seeking a cure for his polio. Using the ledger books of Atlanta's food retailers, the Woolford's copied out credit information on their customers on individual slips on paper, then arranged them into a book. Following these failings, Equifax has faced several lawsuits as well as fines over the years. In the ensuing years, the volume of requests for this new service increased dramatically. The headquarters of the agency is in Atlanta, Georgia, and it operates in 24 countries in Asia Pacific, Europe, and America. Close this window, and upload the photo(s) again. In addition, the company hoped to avoid the expensive class action suits over its activities that competitors had suffered. Milton Old School Baptist Church Cemetery, https://www.findagrave.com/memorial/73468528/cator-ringgold-woolford. [64][65], Also on October 13, 2017, the U.S. Internal Revenue Service was reported to have suspended a $7.2 million contract with Equifax as a result of the attack. [citation needed] Equifax sells businesses credit reports, analytics, demographic data, and software. In June 1996 the company gained full ownership of Transax plc, the largest check guarantee company in the United Kingdom, while in March 1998 it acquired a leading U.K. risk and credit management firm, CCI Group Plc. Another concern was growing consumer dissatisfaction. [42][43][44], In 1999, Equifax began offering services to the credit consumer sector in addition, such as credit fraud and identity theft prevention products. CFO of Equifax John Gamble is the Chief Financial Officer at Equifax and is responsible for all financial functions, including corporate finance, investor relations, accounting, audit, tax and treasury, as well as global procurement, real estate, and the Equifax shared service center in Costa Rica. In the early 1970s, Retail Credit purchased several competitors, buying credit bureaus in Oregon, Idaho, and California, and Credit Bureau, Inc., located in Washington, D.C. [29][30][31], By September 2019, however, Equifax had added qualifications and "hurdles" to its claims process which put in doubt whether the previously announced cash settlement of $125 per affected consumer would actually be awarded. "[71][77], In April 2014, Equifax was sued in New York federal court by God Gazarov, who claimed the company erroneously reports him as having no credit history because of his unusual first name. By 1994 Equifax had acquired three more healthcare information firms, giving it a substantial presence in claims processing. With only seven branch offices in operation, Retail Credit proclaimed that it provided a "National Inspection Service," providing reliable reports of uniform quality for insurance purposes. Cambridge, Dorchester County, Maryland, USA. Today the facility operates as Morningstar Treatment Services, which serves children with intellectual disabilities. Equifax was founded in 1898 by two brothers, Cator and Guy Woolford. "[42], According to senator Michael Crapo, "The amount of data that the private industry and Government collect and store is very concerning. All photos uploaded successfully, click on the Done button to see the photos in the gallery. As a trustee of the Fernbank Science Center in Atlanta, Woolford helped to acquire land that would become a buffer for the Fernbank Forest. The vulnerability in which Chinese hackers leveraged was CVE-.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:#d33}.mw-parser-output .cs1-visible-error{color:#d33}.mw-parser-output .cs1-maint{display:none;color:#3a3;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}2017-5638,[22] the hackers managed to stay in Equifax systems undetected for approximately 134 days. Wanting more opportunity for her daughter, Anne Lane joined forces with her friend and civic leader Rebecca Frazer to create the Cerebral Palsy Centerin 1949 in the basement of St. Lukes Episcopal Church on Peachtree Street. Today, Equifax has a workforce of about 14,000 employees throughout 19 countries, and reports revenue of $3.14 billion per year. By 1915 Retail Credit's earliest work compiling lists of good and bad credit risks in the Atlanta area had dwindled to almost nothing. Try again later. Also in the late 1970s, Equifax began strengthening consumer credit reporting operations by purchasing small, local credit reporting agencies and by affiliating with others. The settlement was for those who were affected by the data breach, and it cost Equifax over $700 million. Are you sure that you want to delete this flower? Merchants paid $25 a year to use the book and subsequent credit reports; grocers paid less. Found more than one record for entered Email, You need to confirm this account before you can sign in. You shouldn't count on it", "If you made a claim for $125 from Equifax, you're not getting it after court awards nearly $80 million to attorneys", "Equifax acquires Ansonia expanding leadership in commercial credit data solutions", "WSJ News Exclusive | Equifax Sent Lenders Inaccurate Credit Scores on Millions of Consumers", "Equifax issued wrong credit scores for millions", "Equifax sued over erroneous credit scores sent for "millions" of Americans", "Equifax to acquire Brazilian credit bureau Boa Vista Servios for $596m", "Freezing Credit Will Now Be Free. Equifax moved into marketing databases, which allowed patrons to target their most likely customers. In 1948, Anne Lane was searching for a program for her daughter Anita, who had cerebral palsy. The company's retail credit reporting activities were restricted to the Atlanta area, while insurance activities were delegated a wider scope. Finally, we can read about how these great companies came about with Company Histories.. Nestled on 39 acres of mature hardwoods, the Cator Woolford Gardens are situated on one of the few remaining intact historic estates in Metropolitan Atlanta and are located just a few miles from the heart of downtown. Please try again later. In 1934 Retail Credit purchased a Brooklyn credit agency, Retailers Commercial Agency, Inc. Retail Credit moved to professionalize operations in the 1930s, relying less and less on part-time correspondents for information and more often utilizing full-time, company-trained inspectors. Retail Credit attempted to make up the slack by increasing automobile insurance reporting; by the following year, more than one-fifth of the agency's business was contributed by this division. And though Equifaxs story isnt quite as tenured as Experian, its roots date back to the late1800swhen it began as a grocery store. After a decade-long court battle, Retail Credit was allowed to retain the purchases. [66], In 1982, Retail Credit Company was criticized for collecting "facts, statistics, inaccuracies and rumors about virtually every phase of a person's life; his marital troubles, jobs, school history, childhood, sex life, and political activities. Cator Woolford (1869-1944) moved to Georgia and formed a credit bureau there with his brother Guy. The enterprise was newly christened the Retail Credit Company, Inc., on December 29, 1913. For those that were affected by the data breach, there were open suggestions to file claims against it. You need a Find a Grave account to continue. Where would you like to work? "Equifax." Photos larger than 8Mb will be reduced. The marketing division had sales of $90 million in the first nine months in operation. 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