Equifax (NYSE:EFX) shares fell more than 2% after-hours following the company’s statement today that it had received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) as part of its investigation into data-accuracy issues within the company's Workforce Solutions business unit, to ensure compliance with the Fair Credit Reporting Act (FCRA).
The CID required Equifax to provide documents and answers to written questions. The company is cooperating with the CFPB and working on its response to the CID.
At present, the company cannot predict the outcome of these CFPB investigations and whether they will lead to any actions or proceedings against them.