Soon offices in Chicago and San Francisco came on line. Residents in the United Kingdom (15.2 million) and Canada (about 19,000) were also impacted. [87], 2016 advance-warnings of insecure systems, 2017 withdrawal of vulnerable mobile apps. In a ten-year period, 104 smaller credit bureaus had been added to the Equifax network alone. The agency was founded by two brothers Guy and Cator Woolford, in 1899. To view a photo in more detail or edit captions for photos you added, click the photo to open the photo viewer. The email does not appear to be a valid email address. [53][54], On September 7, 2017, the same day as Equifax announced a large security breach, Equifax removed its official mobile apps from the Apple App Store and from Google Play. [18], Equifax was the subject of more than 57,000 consumer complaints to the Consumer Financial Protection Bureau from October 2012 to September 17, 2017, with most complaints relating to incomplete, inaccurate, outdated, or misattributed information held by the company. Equifax Courtesy of Equifax Beginnings In 1899 Cator and Guy Woolford, two brothers from Woolford, Maryland, began operations as the Retail Credit Company in Atlanta. Source: International Directory of Company Histories, Vol. The researcher requested anonymity out of professional concerns. In 1979 the company took a big step in that direction, acquiring Elrick & Lavidge, a Chicago firm that performed marketing surveys, and merging it into the company's Marketing Information Services subsidiary. were exposed as in the MayJuly breach, according to Motherboard. [10][11] Even though the company continued to do credit reporting, the majority of its business was making reports to insurance companies when people applied for new insurance policies, such as life, auto, fire and medical insurance. Learn more about managing a memorial . Nevertheless, after the company pledged to monitor its procedures more carefully, the government halted its investigation. By 1937 nearly three quarters of all the company's inspection forms were being filled out by full-time investigators, operating out of 96 Retail Credit offices in cities across North America. [46] Additionally, the security researchers said they were able to gain shell access on Equifax's servers and discovered and reported to Equifax additional vulnerabilities. Found more than one record for entered Email, You need to confirm this account before you can sign in. Retail Credit set a pattern of aggressive development in the life insurance-related business that would later be applied when entering other fields. 1930: The Retail Credit Company has 81 branch offices throughout North America. There was a consent decree. This flower has been reported and will not be visible while under review. This relationship is not possible based on lifespan dates. Becoming a Find a Grave member is fast, easy and FREE. [46], "I didn't have to do anything fancy," the researcher told Motherboard, explaining that the site was vulnerable to a basic "forced browsing" bug. The settlement was for those who were affected by the data breach, and it cost Equifax over $700 million. Resend Activation Email. [42] Credit grantors use this information to decide what sort of products or services to offer their customers, and on what terms. Veda had previously acquired the Australian market research and opinion polling company ReachTEL in September 2015, which continues to produce opinion polls in Australia. The company sold stock to the public for the first time in 1965. Use Escape keyboard button or the Close button to close the carousel. cemeteries found in Woolford, Dorchester County, Maryland, USA will be saved to your photo volunteer list. After a decade-long court battle, Retail Credit was allowed to retain the purchases. Until his retirement in 1931, he successfully steered the company as general manager, president and chairman. With only seven branch offices in operation, Retail Credit proclaimed that it provided a "National Inspection Service," providing reliable reports of uniform quality for insurance purposes. Today, Equifax has a workforce of about 14,000 employees throughout 19 countries, and reports revenue of $3.14 billion per year. The Retail Credit Company continued to expand, going public in 1965 and (with other credit agencies) coming under Federal Trade Commission oversight in 1971. Beautiful, intimate, and all-inclusive. Equifax was forced to confront growing consumer hostility in the early 1990s, as watchdog groups contended that credit bureaus' files were often inaccurate and were used in inappropriate ways. Family members linked to this person will appear here. [48] The event was considered "one of the biggest data breaches in history. With opportunities for expansion growing more limited in the developed world, Equifax turned to the Latin American and Asian markets, acquiring full or partial ownership of firms in Chile, India, Argentina, Peru, and El Salvador. In the late 1920s Cator Woolford befriended Franklin D. Roosevelt when the future president began visiting Warm Springs, seeking a cure for his polio. [14] Equifax formerly offered digital certification services, which it sold to GeoTrust in September 2001. The same cybersecurity firm was hired following the MayJuly breach. [42] Equifax also provides commercial credit reports containing financial and non-financial data on businesses of all sizes. These included that it collected "facts, statistics, inaccuracies and rumors about virtually every phase of a person's life; his marital troubles, jobs, school history, childhood, sex life, and political activities." Cator also served on the Georgia Warm Springs Foundation where President Roosevelt and he became friends. Use the links under See more to quickly search for other people with the same last name in the same cemetery, city, county, etc. Equifax, one of the largest credit-reporting agencies in the country, collects data on more than 400 million credit holders nationwide. It has been recognized in the Top 100 list of the Worlds Most Innovative Companies by Forbes. Quickly see who the memorial is for and when they lived and died and where they are buried. With the robust recovery of the U.S. economy in the postwar years, however, Retail Credit's business revived and grew. The company posted a loss of $2,242. All photos appear on this tab and here you can update the sort order of photos on memorials you manage. In mid-1992 Equifax agreed to provide consumers with a toll-free number and to begin investigating disputes within 30 days. To use this feature, use a newer browser. In the early 1970s, Retail Credit purchased several competitors, buying credit bureaus in Oregon, Idaho, and California, and Credit Bureau, Inc., located in Washington, D.C. Try again later. [82], Equifax software engineer Sudhakar Reddy was charged with insider trading for purchasing options prior to the disclosure of the 2017 data breach. They were originally founded in 1898, 70 years before the creation of Trans Union. You can always change this later in your Account settings. [50] The data from the breach has yet to be seen on black markets or the dark web by security experts, making it difficult to identify the origin of the breach. Once the home of Cator Woolford, a principal founder of what is now known as Equifax, the Italian-style gardens serve as a wedding and event venue infused with decades of classic beauty and Southern charm. Over the years the company has produced several profitable data-gathering and transaction-processing progeny, including Certegy, which became a separate entity in 2001, and ChoicePoint, which became a separate entity in 1997. This legislation gave consumers rights regarding information stored about them in corporate databanks. Equifax Inc. - then called the Retail Credit Company - was founded in Atlanta, Georgia, by brothers Cator and Guy Woolford in 1899. The credit bureau had opened 34 branch offices in the United States and three in Canada, as well. Equifax has been operational for over a decade, during which time it has experienced immense success. Reese, Krista. Between 1983 and 1988, the company's overall revenues increased by nearly 60 percent, to $743 million, and earnings more than doubled. With over 14,000 employees worldwide, Equifax has nearly US$5 billion in annual revenue and is traded on the New York Stock Exchange (NYSE) under the symbol EFX.[7]. In March 1930 Retail Credit established the Georgia Credit Exchange to provide services in cities across the state. There was a problem getting your location. In 1994 the company also greatly expanded its international operations through acquisitions and joint ventures, gaining a presence in 12 countries, including Argentina, Chile, Spain, the United Kingdom, and Australia. The company was founded by Cator Woolford and Guy Woolford in 1899 and is headquartered in Atlanta, GA. Show more---Top 5 ETFs holding EFX. The number grew to 258 over the next ten years. The company continued expansion by opening new branch offices throughout the decades following the war. Leaving the direct-marketing business enhanced Equifax's public image without too much sacrifice; the relinquished activities provided only $12 million, or one percent of Equifax's revenues. [76], In 2014, Equifax and Heartland Bank were sued by Kimberly Haman of the St. Louis area for reporting she was dead. Its believed that this change was part of a means to improve its image after being found in violation of the Fair Credit Reporting Act after it was signed into law in 1971. Cator Woolford Gardens - Cator, Three (CWG) (GC4BAB) was created by BigDoggie & Frogger (adopted by ckirbee) on 4/10/2002. Boasting operations in 18 countries and sales in more than 45, Equifax holds leading positions in consumer and commercial credit information in Canada, Argentina, Brazil, Chile, El Salvador, Peru, Portugal, Spain, and the United Kingdom. Cator Woolford (1869-1944), Atlanta businessman, civic leader and philanthropist, founded the Retail Credit Company (the precursor to Equifax) in 1899. [11] RCC also investigated insurance claims and made employment reports when people were seeking new jobs. In 1923 Retail Credit spun off local consumer credit rating operations and formed a new corporation, Credit Service Exchange. Your new password must contain one or more uppercase and lowercase letters, and one or more numbers or special characters. Equifaxs credit-scoring software is offered through many subsidiaries, and its customers include retailers, insurance firms, health-care providers, utilities, government agencies, banks, and other financial institutions. [42] Credit reports provide detailed information on the personal credit and payment history of individuals, indicating how they have honored financial obligations such as paying bills or repaying a loan. The following year the company also opened a branch office in Cincinnati. Year should not be greater than current year. [37][38] Equifax acknowledged reporting inaccurate credit scores, but insisted the errors had affected only a few people. Inception The agency was founded by two brothers Guy and Cator Woolford, in 1899. 1923: The company forms Credit Service Exchange, a credit rating operations firm. Its customers included retailers, government agencies, healthcare providers, insurance firms, and credit unions, among many others. By 1913 Retail Credit had developed a special form for automobile insurance, to be completed by the investigator. Today, we know that company as Equifax. Learn about how to make the most of a memorial. To cover the costs of this effort, Woolford sold copies of the book to other merchants. "With his brother Guy, Cator Woolford started the Retail Credit Company, the precursor to Equifax. Cator Woolford (1869-1944), Atlanta businessman, civic leader and philanthropist, founded the Retail Credit Company (the precursor to Equifax) in 1899. Try again later. The company was also alleged to reward its employees for collecting derogatory information on consumers. During this period, it began reporting for automotive liability insurance. [9] By the 1960s, Retail Credit Company was one of the nation's largest credit bureaus, holding files on millions of American and Canadian citizens. THE CATOR WOOLFORD ESTATE 1815 S. Ponce de Leon, Ave, NE, Atlanta, GA 30307 Determination and Scope for Fence Permit . Weve updated the security on the site. Who Is The Founder Of Equifax? Please contact Find a Grave at [emailprotected] if you need help resetting your password. Cator is buried in Woolford. In 1934 Retail Credit purchased a Brooklyn credit agency, Retailers Commercial Agency, Inc. Retail Credit moved to professionalize operations in the 1930s, relying less and less on part-time correspondents for information and more often utilizing full-time, company-trained inspectors. Exited Healthcare and Insurance, Expanded Internationally, in Mid-to-Late 1990s. Equifax collects and provides data through the National Consumer Telecom and Utilities Exchange (NCTUE), an exchange of non-credit data including consumer payment history on telecommunications and utility accounts. The settlement includes up to $425 million to help people affected by the data breach. Equifax also confirmed at least 209,000 consumers' credit card credentials were taken in the attack. Please check your email and click on the link to activate your account. Not long after, the government accused the company of rating employees based on how much negative information they could find about consumers. [66], In 1982, Retail Credit Company was criticized for collecting "facts, statistics, inaccuracies and rumors about virtually every phase of a person's life; his marital troubles, jobs, school history, childhood, sex life, and political activities. Riley, Michael, Anita Sharpe, and Jordan Robertson, "The New Equifax Boss Wants to Make Amends. Finally, we can read about how these great companies came about with Company Histories.. . Guy Woolford was also inclined to make lasting contributions to his community. As a new century dawned and the company entered its second century in business, Equifax was busy gaining a toehold in the burgeoning world of Internet commerce. (ChoicePoint and Equifax did not then, nor do they now, share information or any relationship.). In the ensuing years, the volume of requests for this new service increased dramatically. The sponsor of a memorial may add an additional. "Equifax." [72] The award included $18.4 million in punitive damages, and $180,000 in compensatory damages. He established the Thomas Guy Woolford Charitable Trust, which is today administered by SunTrust Banks (now Truist). Retail Credit changed its name in 1979 to Equifax Inc., derived from "equitable factual information." There was also a security breach in 2017, and the same year, there was an exposure of consumer data on their Argentine customers. We have set your language to Are you adding a grave photo that will fulfill this request? [13] The insurance reporting was phased out. By 1994 Equifax had acquired three more healthcare information firms, giving it a substantial presence in claims processing. Oops, some error occurred while uploading your photo(s). By 1986 the company's files covered 150 million people in 28 states. With his brother Guy, a lawyer six years his junior, Cator settled on Atlanta as the site of his new venture. Equifax also divested itself of two unprofitable units in 1989, Equifax Insurance Systems and Enercon, Inc. As the 1990s arrived, the company strove to enter the European market. Thanks for your help! Your support helps us commission new entries and update existing content. Where would you like to work? Cator, a former bank employee, and Guy, a lawyer, employed simple notations to reflect merchants comments about their shoppers payment habits: Prompt, Slow, or Requires Cash. They published these findings as The Merchants Guide, sold it for $25, and offered individual credit reports. [71] In her lawsuit, Miller alleged Equifax had merged her credit reports with another person with a different Social Security number, date of birth, and address. [81], Consumer lawsuits claiming damages under the FCRA have been successful in small claims court. The company was founded by Cator Woolford and Guy Woolford in 1899 and is headquartered in Atlanta . Flowers added to the memorial appear on the bottom of the memorial or here on the Flowers tab. Once the home of Cator Woolford, a principal founder of what is now known as Equifax, the Italian-style gardens serve as a wedding and event venue infused with decades of classic beauty and Southern charm. All these figures have been every rising every year for the past couple of years. Share this memorial using social media sites or email. [46], On September 18, 2017, Bloomberg News reported that Equifax had been the victim of a "major breach of its computer systems" in March 2017, and that in early March it had begun "notifying a small number of outsiders and banking customers" about this attack. The following day, a class-action lawsuit was filed by Jacksonville, Florida resident Nydia Jenkins against Equifax alleging she had received a "substantially pricier car loan" (resulting in an additional loan payment of $2,352 more per year) due to Equifax reporting her credit score 130 points off from what it should have been. Verify and try again. Founder of the Retail Credit Company of Atlanta, Ga., now Equifax, one of the three major credit-rating agencies in the US. This entity was later sold. Different inspectors carried out the two types of investigations. The same year, the company split operations between its two main clients, handling retail and insurance reports separately. Are you sure that you want to delete this flower? In 1950, 140 locations were providing services. Stock, Director Heather Wilson, Director John McKinley, Director & 6 others Equifax Competitors Credit Information Bureau 2000, Mumbai, $19.1M Canopy 2015, London, $12.4M Applied Data Finance 2014, New York City, $202M Aire 2014, London, $33.3M Revenues had reached a record $1.62 billion by 1998, but the outlook was somewhat clouded by the economic uncertainties that had begun with the Asian financial crisis of 1997. Market Value. Translation on Find a Grave is an ongoing project. [59], On October 12, 2017, Equifax's website was reported to have been offering visitors malware via drive-by download. 20042023 Georgia Humanities, University of Georgia Press. Cator Woolford got his start in the credit bureau business as a grocer in Chattanooga, Tennessee. [6], Equifax operates or has investments in 24 countries in the Americas, Europe, and Asia Pacific. Call toll free: 1-877-842-5215, Top Four Ways To Financial Freedom In 2023, 5 Secret Facts About Credit That You Never Knew, Best Credit Card Practices Ahead of the Holidays, Ways to Use Your Credit Card That Nobody Talks About, 1898: Equifaxs roots begin in this year as a Tennessee-based grocery story. The companys name was changed to Equifax in 1976, perhaps, some thought, to counter the lingering memory of the companys brushes with government regulators. [42], Equifax also offers fraud prevention products based on device fingerprinting such as "FraudIQ Authenticate Device. Having already moved into check verification and credit card processing in the early 1990s, Equifax diversified again in 1992 through the acquisition of Health Economics Corporation, which moved the company into the field of healthcare information. The Woolford brothers left their own legacies apart from the phenomenally successful business they started. [60][61] The malware was disguised as an update for Adobe Flash. The company responded that such findings were never used in credit-rating evaluations but were limited to its insurance and consumer investigations businesses (which were later spun off). based on information from your browser. There he supervised the compilation of a list of customers, with indications of their creditworthiness, for the local Retail Grocer's Association." This episode of our daily podcast, The Outline World Dispatch was all about the Equifax breach. By 1920, the company had offices throughout the United States and Canada. Pleased with the success of his first listing, Woolford set out to make credit reporting his career. In the late 1920s Woolford befriended Franklin D. Roosevelt and was one of the founders of the Roosevelt Warm Springs Institute. [79], On November 4, 2017, it was reported that a group of five Oklahomans had sued the company, claiming that Equifax "violated laws which require financial institutions to protect the security of their customers' personal information. To add a flower, click the Leave a Flower button. Drag images here or select from your computer for Cator Ringgold Woolford memorial. "Equifax." Copyright 2018 Key Credit Repair. 1988: The company now covers all 50 states, with revenue of $743 million. [15] Also in 2001, Equifax spun off its payment services division, forming the publicly listed company Certegy, which subsequently acquired Fidelity National Information Services in 2006. The agency has recorded a very big growth over the years, and they have total assets worth $7.23 billion. This was one of the last parcels in Druid Hills to be purchased, ostensibly because so much of it was considered This oasis has remained practically untouched by today's urban sprawl. Milton Old School Baptist Church Cemetery, https://www.findagrave.com/memorial/73468528/cator-ringgold-woolford. Armed with a form showing the information that would be provided about each potential customer, the salesman pulled in a large number of new clients. Learn more about merges. Are you sure that you want to delete this memorial? They were originally founded in 1898, 70 years before the creation of the Trans Union. Add to your scrapbook. As an Equifax executive explained in Business Week, "People see the use of this information as a privacy problem if it goes beyond credit purposes." In the fall of 1901, the company dispatched a salesman to the Northeast to drum up business in the home offices of the nation's largest insurance companies. By 1920, it had numerous branch offices throughout the United States and Canada, and became a publicly owned corporation in 1965. Guy Woolford and his brother, Cator, founded Retail Credit Company, which became Equifax in the 1970s. The origins of these gardens date back to the 1920's and was once home to Cator Woolford himself - one of the leading founders of what we know today as Equifax. Roosevelt Warm Springs Institute for Rehabilitation, Statutory and Executive Boards and Commissions, Georgia National Fairgrounds and Agricenter. After a month the task had grown so large that two additional men were hired to assist the Woolfords, and one week later a woman was employed as well. Equifax had quickly built up a significant presence in the emerging Brazilian market through a total investment of more than $350 million. In 1935 Cator Woolford donated a parcel of land he owned in Glynn County, adjacent to an old river plantation known as Elizafield, to the state of Georgia for use as a state park. [77] An Equifax "spokesperson told the Post-Dispatch that Equifax blocked the Heartland account information from appearing on Haman's credit report after a reporter's inquiry. You have chosen this person to be their own family member. All rights reserved. By the end of the company's second decade of existence, Retail Credit was thoroughly established as a significant partner in the life insurance business. Expanded into Insurance-Related Business in 1901. [citation needed] The company also had a division selling specialist credit information to the insurance industry but spun off this service, including the Comprehensive Loss Underwriting Exchange (CLUE) database as ChoicePoint in 1997. [8] By 1920, the company had offices throughout the United States and Canada. [23], In March 2018, the Security and Exchange Commission accused Jun Ying, Equifax's former CIO, of illicit insider trading, by selling company stock before the breach was publicly disclosed. ", The same types of sensitive private information of American consumers (names, birth dates, social security numbers, etc.) Three years later, Retail Credit ran afoul of the new federal regulations and was charged with violating the Fair Credit Reporting Act and the Federal Trade Commission Act. Are you sure that you want to report this flower to administrators as offensive or abusive? 1913: Retail Credit Company incorporated in 1913 and continued to grow its insurance-related business. These activities had long taken place at a different location under separate management; three years later, Retail Credit further severed its connection when the Exchange was sold to businessman L.S. They started been operational for over a decade, during which time it has immense. List of the U.S. economy in the late 1920s Woolford befriended Franklin D. Roosevelt and was one of the major! 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