“This result sends a strong message to businesses that making misrepresentations and acting unconscionably against consumers will not be tolerated,” Ms Court said. “Consumers have a right to receive accurate information from credit reporting companies when they seek advice or services.” “It is appalling that Equifax used unfair sales tactics on consumers who were vulnerable,” Ms Court said. In respect of three vulnerable consumers, Equifax also admitted that it acted unconscionably by using unfair sales tactics and making misleading representations during telephone calls. “We considered it unacceptable that consumers were denied the knowledge and proper opportunity to opt out of recurring charges from Equifax,” Ms Court said.Įquifax also told consumers that the credit score provided in its paid credit reports was the same credit score used by credit providers when that was not always the case. Consumers have the legal right to obtain a free credit report under the law,” ACCC Commissioner Sarah Court said.Įquifax also admitted it told consumers they would be charged a single ‘one-off’ or ‘one-time’ payment, but failed to disclose that payments for its paid credit report packages would automatically renew unless consumers opted out. “Equifax’s conduct caused people to buy credit reporting services in situations when they did not have to. The Federal Court has ordered that Equifax Australia Information Services and Solutions Pty Ltd (Equifax) pay penalties totalling $3.5 million for misleading and deceptive conduct and unconscionable conduct in relation to credit report services following joint submissions by Equifax and the ACCC.Įquifax admitted it breached the Australian Consumer Law (ACL) in 20, when its representatives made false or misleading representations to consumers during phone calls.Įquifax told consumers that its paid credit reports were more comprehensive than free reports it had to provide under the law, when in fact they contained the same information.
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