Equifax Inc. made a purchase this week that will expand its ability to collect data on consumers. It bought another credit-reporting bureau, called DataX Ltd.
Atlanta-based Equifax sells consumer financial information to lenders deciding whether to grant credit. DataX, based in Las Vegas, has built a financial database focused on people who have trouble getting credit cards or traditional bank loans. Those consumers often rely on services like payday loans, which don’t usually get reported to Equifax.
In a press release, Equifax said that by acquiring DataX, it will now be able to help lenders better understand these potential borrowers and expand their credit access by gaining access to this information.
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