WASHINGTON, Dec. 7, 2015 /PRNewswire/ -- Equifax (NYSE: EFX) today celebrated the passage of the Child Support Assistance Act of 2015, which will assist state child support agencies in collecting child support payments by amending the Fair Credit Reporting Act.
Equifax, in partnership with the National Child Support Enforcement Association (NCSEA), has long supported the legislation that became law with the passage of H.R. 22, the highway and transit reauthorization bill. H.R. 2091, The Child Support Assistance Act, sponsored by Representatives Bruce Poliquin (R-ME) and Keith Ellison (D-MN) in the House and Senator Pat Toomey (R-PA) in the Senate, was included as an amendment to the transportation bill, which now goes to the White House for the President's signature.
"This is a victory for the nation's children and struggling parents who depend on child support payments, as well as for the agencies that work on their behalf," said Debra Rohlman, Vice President of Verification Services at Equifax. "We would like to thank Representatives Poliquin and Ellison, and Senator Toomey, for their leadership on this important issue."
The legislation amends the Fair Credit Reporting Act (FCRA) by removing an onerous 10-day notice requirement in which the state child support agencies had to notify the delinquent, non-custodial parent before requesting their consumer report – giving the delinquent parent ample time to manipulate his or her financial situation in order to dodge payment. This requirement often delayed child support payments and added a cost to states, as all such notices must be sent by certified or registered mail.
Additionally, the new law will provide much needed clarity and consistency in how agencies request consumer reports to set, modify and enforce child support awards.
"With passage of this law," said Rohlman, "Equifax will be able to provide up-to-date income and employment information to agencies so they can more easily obtain payment where payment is due."
About Equifax Equifax is a global leader in consumer, commercial and workforce information solutions that provide businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide. The company's significant investments in differentiated data, its expertise in advanced analytics to explore and develop new multi-source data solutions, and its leading-edge proprietary technology enable it to create and deliver unparalleled customized insights that enrich both the performance of businesses and the lives of consumers.
Headquartered in Atlanta, Equifax operates or has investments in 19 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. In 2015, Forbes named Equifax one of the World's 100 Most Innovative companies; Bloomberg BusinessWeek nominated it as one of its Top 50 companies; its CIO was named one of the top 100 by CIO magazine; the company ranked 13th in the Fintech 100 list; and it was recognized as a top 20 company to work for by the Atlanta Journal-Constitution and was named a 2015 InformationWeek Elite 100 Winner. For more information, please visit www.equifax.com.
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SOURCE Equifax Inc.