Fair Isaac CEO Refutes Monopoly Claims in Interview with Jim Cramer

Monday to Friday from 6:00 PM to 7:00 PM Eastern Time is when CNBC’s Jim Cramer interviewed Fair Isaac CEO Will Lansing in a recent conversation. In the interview, Lansings rejected claims that his company has an industry monopoly, stating instead that although alternatives exist to their FICO score, it remains the best option available at lower costs with greater efficiency for assessing credit risk among broad populations. Missouri Senator Josh Hawley previously sent a letter urging authorities to investigate Fair Isaac’s potential anti-competitive practices because he alleged that they had abused market dominance by raising prices excessively in ways which were injurious towards ordinary people while ultimately aiming only to expand the company’s profits at their customers expense. Lansings, however, argued that his organization offers low cost services for banking clients and is proud of its role in facilitating credit accessibility among responsible individuals who can manage it effectively. He also mentioned that Fair Isaac had previously undergone an antitrust investigation which concluded without any adverse findings against the company’s competitive practices. CNBC viewers are encouraged to sign up at no cost for Jim Cramer’s guide on investing and follow his moves in real-time by joining the CNBC Investing Club via Mad Money Twitter, Facebook or Instagram accounts, while further communication related specifically with Mad Money may be addressed through email sent to madcap@cnbc.com.