[32][33][34], On 19 December 2019, a federal judge in Atlanta awarded class-action attorneys representing consumers approximately $77.5 million, suggesting that individual consumers might expect to receive around six or seven dollars. This changed in 1999 when the agency started offering services to credit consumer sectors. Save my name, email, and website in this browser for the next time I comment. [6], Equifax operates or has investments in 24 countries in the Americas, Europe, and Asia Pacific. Residents in the United Kingdom (15.2 million) and Canada (about 19,000) were also impacted. . With the robust recovery of the U.S. economy in the postwar years, however, Retail Credit's business revived and grew. The change symbolized the company's growing capabilities and prepared the way for further diversification of its activities, from operations centered in the insurance industry to wider marketing functions. Additionally, in the late 1940s he served as a trustee of the Fernbank Science Center and helped to acquire property that would ensure a buffer for the pristine Fernbank Forest in DeKalb County. [48] The event was considered "one of the biggest data breaches in history. Equifax was founded by Cator and Guy Woolford in Atlanta, Georgia, as Retail Credit Company in 1899. All photos appear on this tab and here you can update the sort order of photos on memorials you manage. Not long after, the government accused the company of rating employees based on how much negative information they could find about consumers. [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. 1986: The company amasses data on more than 150 million consumers in 28 states. Please check your email and click on the link to activate your account. 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. Renamed REACH in 1989 and the Frazer Center in 1999, the vision to offer research-based education, vocational support, and therapeutic intervention to children and adults with developmental disabilities remains intact. Woolford also spearheaded fund-raising efforts for the construction of Georgia Hall, one of several buildings Roosevelt erected in Warm Springs. [79], On November 4, 2017, it was reported that a group of five Oklahomans had sued the company, claiming that Equifax "violated laws which require financial institutions to protect the security of their customers' personal information. Privacy Policy. Despite Equifax's flat earnings, the company moved past its main competitor, TRW, to seize the lead in market share among credit bureaus in the beginning of 1992. cemeteries found in Woolford, Dorchester County, Maryland, USA will be saved to your photo volunteer list. Equifax was forced to confront growing consumer hostility in the early 1990s, as watchdog groups contended that credit bureaus' files were often inaccurate and were used in inappropriate ways. On March 1, 2018, Equifax announced that 2.4 million additional U.S. customers were affected by the breach,[21] increasing the number of affected to 147.9 million Americans. Equifax purchased eThority, a business intelligence (BI) company headquartered in Charleston, South Carolina, in October 2011. eThority is partnering with TALX, a St. Louis-based business unit of Equifax, and remained in Charleston. Cator Woolford (1869-1944), Atlanta businessman, civic leader and philanthropist, founded the Retail Credit Company (the precursor to Equifax) in 1899. Boasting operations in 18 countries and sales in more than 45, Equifax holds leading positions in consumer and commercial credit information in Canada, Argentina, Brazil, Chile, El Salvador, Peru, Portugal, Spain, and the United Kingdom. Son of John Stevens Brohawn and Mary Ellen Rees Woolford.Founder of the Retail Credit Company of Atlanta, Ga., now Equifax, one of the three major credit-rating agencies in the US.Married Charlotte Louise Boyd (19001965) on 01 Jan 1920, at the home of her parents in Griffin, Spalding, GA, U.S., Newspapers.com Marriage Index, 1800s-2020, U.S., Newspapers.com Obituary Index, 1800s-current, Thank you for fulfilling this photo request. By 1944 the volume of reports produced had sunk to six million. The settlement was for those who were affected by the data breach, and it cost Equifax over $700 million. [77] An Equifax "spokesperson told the Post-Dispatch that Equifax blocked the Heartland account information from appearing on Haman's credit report after a reporter's inquiry. Gilbert. In 2010 Equifax bought an identity verification software company Anakam, which was headquartered in San Diego, California. Cator Woolford got his start in the credit bureau business as a grocer in Chattanooga, Tennessee. Equifax, one of the nations top three credit-reporting agencies, along with Experian and TransUnion, holds information on more than 400 million credit holders across the. Founded by brothers Cator and Guy Woolford, each got their start in the credit business as grocers, where they compiled lists of customers based on their creditworthiness. In 1934, he co-founded the short-lived Correct Address Company, with Edwin K. Large . In 1941, when the war began for the United States, the company was providing 7.5 million reports a year; many of its inspectors, however, were drafted into the military and other employees left the enterprise to engage in war-related endeavors. Please reset your password. Take a virtual tour of Georgia's museums and galleries, Fashion and politics from Georgia-born designer Frankie Welch. The U.S. entry into World War II had a serious impact on Retail Credit's business. ). [73] The jury's verdict is believed to be the largest award in an individual case under the Fair Credit Reporting Act. Photograph of Cator Woolford, who, with his brother Guy, started the Retail Credit Company, the precursor to Equifax, in Atlanta, Georgia. "[45], According to an October 2017 report from Motherboard, around December 2016, a security researcher examining Equifax's servers found that an online portal, created for Equifax employees only, was accessible to the open Internet. Cambridge, Dorchester County, Maryland, USA. Equifax Similar Companies Jobs Equifax History FAQs How Old Is Equifax? [37][38] Equifax acknowledged reporting inaccurate credit scores, but insisted the errors had affected only a few people. Fostering inclusive communities is the heart of Frazers mission. Similarly an agency that had previously limited its activities to claims inspection also joined the fray. In April 1903 Retail Credit closed its Augusta office, after clearly noting signs that the branch would not become profitable. Pushed to the limit, Retail Credit finally allowed women to work as inspectors, in most cases permitting wives to take over their absent husbands' jobs. "[42], According to senator Michael Crapo, "The amount of data that the private industry and Government collect and store is very concerning. In 1994 the company also greatly expanded its international operations through acquisitions and joint ventures, gaining a presence in 12 countries, including Argentina, Chile, Spain, the United Kingdom, and Australia. This is a carousel with slides. Gathering information by telephone, as well as simplifying forms for recording information, were two of the steps taken towards this end. [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. Name. If you have questions, please contact [emailprotected]. based on information from your browser. Cator Woolford, John Kallassy Get Updates for Jobs and News Equifax Jobs Nearby Equifax Jobs Equifax Similar Companies Show More Find Jobs from Similar Companies Personalize your job search. The headquarters of the agency is in Atlanta, Georgia, and it operates in 24 countries in Asia Pacific, Europe, and America. With over 14,000 employees worldwide, Equifax has nearly US$5 billion in annual revenue and is traded on the New York Stock Exchange (NYSE) under the symbol EFX.[7]. By 1913 Retail Credit had developed a special form for automobile insurance, to be completed by the investigator. By 1920, the company had offices throughout the United States and Canada. Equifax has an annual revenue of over $3.1 billion. "[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. These purchases were subsequently challenged by the Federal Trade Commission (FTC), which claimed that they reduced competition. Another concern was growing consumer dissatisfaction. Market Value. 1899: The Woolfords moved to Atlanta with the goal of making credit reporting their new career. The number grew to 258 over the next ten years. Equifax's image-polishing moves came just as the company's net income had declined from $64 million in 1990 to $5 million in 1991; the general recession had held down demand for credit and credit reports, plus a restructuring that cut about 1,900 jobs resulted in a $19 million charge. In the late 1920s Woolford befriended Franklin D. Roosevelt and was one of the founders of the Roosevelt Warm Springs Institute. By the end of the company's second decade of existence, Retail Credit was thoroughly established as a significant partner in the life insurance business. [59], On October 12, 2017, Equifax's website was reported to have been offering visitors malware via drive-by download. In June the pages of the book were run out on a mimeograph machine and bound between hard covers with the title "Merchant's Guide.". It had turned to Edelman for earlier crisis control after the October 2017 privacy breach. Don't ignore the company's latest email", "That $125 payment from Equifax? By 1915 Retail Credit's earliest work compiling lists of good and bad credit risks in the Atlanta area had dwindled to almost nothing. Learn more about managing a memorial . By 1994 Equifax had acquired three more healthcare information firms, giving it a substantial presence in claims processing. Equifax is 124 years old. The business soon became very successful. Becoming a Find a Grave member is fast, easy and FREE. [11], In 1970, after the company had computerized its records, which led to wider availability of the personal information it held, the U.S. Congress held hearings that led to the enactment of the Fair Credit Reporting Act. In March 1930 Retail Credit established the Georgia Credit Exchange to provide services in cities across the state. The agency has recorded a very big growth over the years, and they have total assets worth $7.23 billion. 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. Among other directives given, the U.S. government ordered Retail Credit to stop rating employees by how much negative information they collected on consumers and to stop having investigators misrepresent themselves when conducting inquiries. Year should not be greater than current year. 1979: Retail Credit Company changes its name to Equifax. Equifax Inc. - then called the Retail Credit Company - was founded in Atlanta, Georgia, by brothers Cator and Guy Woolford in 1899. "Equifax." You have chosen this person to be their own family member. 20042023 Georgia Humanities, University of Georgia Press. A system error has occurred. If you notice a problem with the translation, please send a message to [emailprotected] and include a link to the page and details about the problem. As a new century dawned and the company entered its second century in business, Equifax was busy gaining a toehold in the burgeoning world of Internet commerce. 1988: The company now covers all 50 states, with revenue of $743 million. Share this memorial using social media sites or email. This flower has been reported and will not be visible while under review. [23], In March 2018, the Security and Exchange Commission accused Jun Ying, Equifax's former CIO, of illicit insider trading, by selling company stock before the breach was publicly disclosed. The company's operations had already been divided into four divisions: insurance information services, its traditional strength; credit services; marketing services, the newest division; and Canadian operations, which were consolidated into one company, Equifax Canada Inc., in June 1989. In 1899 Cator and Guy Woolford, two brothers from Woolford, Maryland, began operations as the Retail Credit Company in Atlanta. Over the years the company has produced several profitable data-gathering and transaction-processing progeny, including Certegy, which became a separate entity in 2001, and ChoicePoint, which became a separate entity in 1997. Other failings were on the exposure of American salary data, and website malware. Equifax, one of the nations top three credit-reporting agencies, along with Experian and TransUnion, holds information on more than 400 million credit holders across the country. Their downtown office quickly expanded, as the brothers offered life and auto insurance. In the late 1920s Cator Woolford befriended Franklin D. Roosevelt when the future president began visiting Warm Springs, seeking a cure for his polio. (U.K.); Transax pty Ltd. (Australia); Transax S.N.C. 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