Senator Hawley Opens Investigation Into FICO Regarding Price Hikes

On March 23, 2026, Senator Josh Hawley (R-Mo.) notified FICO’s CEO of a congressional investigation into the company’s recent price increases for its credit scores used in home loans. 

Over the past five years, it is alleged that FICO has raised its per-score wholesale royalty for mortgage originations from $0.60 to $10.00.  Further, it is alleged that FICO’s price increases for 2026 alone have raised the potential cost to the mortgage industry by approximately $500 million, which is alleged to be worsening housing affordability nationwide.

The objective of the investigation is to determine whether FICO’s price increases are anticompetitive in a market where FICO scores are purportedly relied upon by 90% of lenders.  Senator Hawley highlighted that large increases in FICO’s operating margin and compound annual growth rate over the past five years signal a potential exercise of monopoly pricing power.  Pursuant to the investigation, it is requested that FICO provide certain documents and information to the Senate Judiciary Subcommittee on Crime and Counterterrorism by no later than April 10, 2026. 

Additionally, Senator Hawley simultaneously urged the FTC, via a letter, to launch a parallel investigation into FICO.