FICO lawsuit against rival credit score cleared for trial

The Minneapolis company behind FICO credit scores is suing its rivals for selling an alternative credit score, and a judge’s decision has now cleared the way for a trial.

FICO (formerly Fair Isaac Corp.) says the VantageScore, developed by Experian and TransUnion, infringes on its trademark, confuses consumers and amounts to unfair competition.

“At a time when consumers most need clarity regarding their creditworthiness, it’s imperative that they understand whether or not the credit scores they purchase are industry-standard FICO® scores, or merely lookalike ‘educational’ scores not actually used by lenders to make lending decisions,” FICO CEO Mark Greene said in a statement.

A U.S. District Court judge in Minneapolis recently denied the defendants’ motion to dismiss the lawsuit, which clears the way for a trial later this year, FICO says.

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