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EQUIFAX AND EIGHTEEN STATES SIGN AGREEMENT OF ASSURANCES

 EQUIFAX AND EIGHTEEN STATES SIGN AGREEMENT OF ASSURANCES
 ATLANTA, June 30 /PRNewswire/ -- Equifax Inc. (NYSE: EFX) today announced that it signed a voluntary, mutually derived agreement with 18 state attorneys general that confirms and strengthens the Equifax commitment to fair information practices and to the highest standards of credit reporting accuracy, privacy and service to consumers.
 Thomas F. Chapman, Equifax senior vice president and group executive, said: "Reached in a spirit of cooperation, this agreement reaffirms the high standards of our existing business practices. We appreciate the very helpful perspective provided by state leaders who understand consumer interests. We also accomplished this with a great deal of consultation with our customers. This notable agreement provides an excellent example of how business and government can work together for the benefit of consumers."
 In a public announcement today, California State Attorney General Daniel E. Lungren said, "We are very pleased with this agreement which we believe confirms Equifax's commitment to better serve consumers."
 Tom Magis, Equifax Corporate Vice President and General Counsel, began discussions with the states in August 1991. "Our discussions were very congenial and productive," Magis said. "Many of the assurances have been in place at Equifax for sometime. The states have recognized that Equifax is a pioneer in adopting consumer initiatives, especially in the areas of credit report accuracy and readability, and responsive consumer service."
 The assurances primarily center on Equifax's existing procedures for providing consumers with easy access, clear disclosure, prompt reinvestigation of disputed information, accurate credit reports, and proper use of credit information for marketing purposes.
 Equifax Inc. is a Fortune 500 company and the leading provider of information to facilitate financial transactions between businesses and consumers. Strategic objectives include superior service standards, technological leadership, and fairness in the use of personal information. Equifax pledges that consumer interests in privacy, accuracy and responsive service will be respected in all its activities. Revenues for the year ended Dec. 31, 1991, were more than $1.0 billion.
 -0- 6/30/92
 /NOTE TO EDITORS: Accompanying fact sheet lists key points in the agreement of assurances.
 FACT SHEET
 EQUIFAX KEY ASSURANCES
 -- To continue to employ our sophisticated search logic software to assure file accuracy and accurate file retrieval on inquiry. (This system has been in place since April 1991.)
 -- To encourage current and future data providers to report information in the industry standard format, thereby promoting accuracy and uniform correction processes.
 -- To continue a program that provides consumers toll-free access to Equifax information consultants. (Already in place since December 1991 is the Equifax Information Service Center.)
 -- To furnish a consumer report within four business days after consumer request. (Equifax current practice is to mail the report the next day.)
 -- To continue the current Equifax practice of providing a credit report without charge to any consumer declined for credit in the past 60 days and otherwise to limit its charges to $8 for disclosure.
 -- To continue the practice of completing within 30 days the reinvestigation of credit report items disputed by a consumer.
 -- To review and consider information provided by the consumer, to verify the status of disputed items, and to notify the individual if items which had previously been deleted are reentered into the file.
 -- To continue the Equifax practice of providing consumers with a current correct version of the credit report after reinvestigation and to notify consumers of their right to include a dispute statement in the credit report.
 -- To continue the Equifax practice of not providing lists to be used to solicit the purchase of goods or services where such lists are derived from the consumer credit file, other than for the purpose of an extension of a firm offer of credit (prescreening).
 -- To disclose to consumers their risk score and an explanation of that score as of the date of their request for their credit report. (Equifax is working with the Federal Trade Commission to put this practice in place within the next 12 months.)
 /CONTACT: John A. Ford of Equifax, 404-885-8309 (office), or 404-469-0920 (after hours)/
 (EFX) CO: Equifax, Inc. ST: Georgia IN: SU:


CF-EA -- AT008 -- 5221 06/30/92 13:42 EDT
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Date:Jun 30, 1992
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