Newcomer Rep. Alexandria Ocasio-Cortez targeted Equifax over a tweet during the weekend. In her tweet, she stated that the company, together with other similar agencies in the United States, plays a great role in determining the credit scoring system within the country. In turn, the system determines the ability of individuals to get proper employment, loans, and housing services.
Hamza Shaban from The Washington Post reports that Rep. Ocasio-Cortez has also been under fire from numerous parties, often targeting her credit score and her financial situation. As a newly elected member of the House of Financial Services, these have all been unwarranted claims designed to target her credibility, notes The Washington Post.
Cementing Rep. Ocasio-Cortez’s Position
Her statement comes from the credit company’s scandal taken up by the House Oversight Committee in December 2018. They reported that the data breach led to identity theft of more than 140 million citizens. A member of the Financial Service Committee, Ocasio-Cortez hopes to address the student loan crisis as well as the issue of credit scoring, in addition to many other issues she feels passionate about.
Business Insider reports that there has been a 25% decrease from the shares of Equifax. However, there has also been a reported increase in short positions. The rise of short positions may be attributed to the class-action lawsuits resulting from the Equifax scandal as well as the increase in the company’s revenue in the third quarter of 2018.
As of writing, Equifax has declined to comment on the issue.