Dr. Michael Grayson speaks about the decision and how it could teach the company a lesson about fraud.
In a ruling that could strike a huge blow against the Equifax credit agency, a New York federal judge has ruled that a case worth $250 million against Equifax will be allowed to proceed. In it, Dr. Michael Grayson, working alongside the Credit and Debt Management Institute, brought up charges against the company ranging from fraud to slander to defamation of character, as well as invasion of privacy.
This comes as the latest blow against the credit agency, who are currently facing a proposal from President Joe Biden to potentially shut down their credit bureaus, which in turn would force them to turn over their transfer consumer credit ratings. The company is currently going through a slew of law firms for representation, as one quit and the other was dismissed.
Grayson noted that Equifax’s actions are “one of the biggest crimes against consumers in history.” He joins us now to discuss what’s happening further with this.
Q&A:
- Are you surprised with the judge’s decision against Equifax, or does it make sense given the company’s reported actions against consumers?
- How many cases did you research in terms of Equifax’s wrongdoing before deciding to bring up legal action against them? If you can’t go into detail, that’s fine, we’re just wondering what all the company did wrong as of late.
- You noted that the company utilized “racism and classism” within their credit agency. How did they manage to do this?
- President Biden apparently has his own plans to try and remove power from Equifax. Does this surprise you or does he have more than enough reason to do so, you think?
- Now that the case will proceed forward, are you confident that you can win and put Equifax’s reported actions into the spotlight?
- Where can we learn more about the Credit and Debt Management Institute?
You can learn more about the Credit and Debt Management Institute at the official website.
About Dr. Michael Grayson
Dr. Michael C. Grayson is the President and CEO of Grayson Financial Services and the Director of The Credit & Debt Management Institute. Before assuming the helm at Grayson Financial Services, Dr. Grayson’s professional career included 20 years working as a credit industry insider. Dr. Grayson retired from the credit industry and started Grayson Financial services in 2000, offering credit driven financial products to individuals, businesses, politicians, celebrities, government agencies, corporations, professional athletes, churches, non-profit organizations and industry professionals. Dr. Grayson served as a consultant to several prestigious law firms and financial services companies, including Rosenbaum and Associates, The Cochran Firm and The Minority Mortgage Bankers Association. As a consultant, he advised C-level executives at several large corporations, including General Motors, Jackson Hewitt, Liberty Tax and Ford.
CONTACT: Jerry McGlothlin of Special Guests, 919-437-0001 or jerry@specialguests.com.
