Experian, CoreLogic Hatched Credit Data Monopoly Plot: Suit

Law360, New York (July 10, 2012, 8:58 PM EDT) -- A Florida consumer reporting agency launched a proposed class action Tuesday accusing Experian Information Solutions Inc. and credit report reselling giant CoreLogic Inc. of striking a symbiotic deal to eliminate rivals and preserve Experian's monopoly in the mortgage credit data market.

In a complaint filed in Florida federal court, Oakland Park, Fla.-based Credit Bureau Services Inc. claims that in May 2007, CoreLogic and Experian entered into a conspiratorial agreement in violation of the Sherman Act to edge out independent credit reporting agencies.

Under that alleged agreement,...
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