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Stock impact report

Fintech Startup TomoCredit's Challenges Continue To Mount [Forbes]

TransUnion (TRU) 
Last transunion earnings: 4/28 06:50 am Check Earnings Report
US:NYSE Investor Relations: investors.transunion.com
Company Research Source: Forbes
In addition to a new lawsuit filed against it, Tomo has made multiple changes to its website over the past two months to remove some wording around boosting consumers' credit scores. Getty T omoCredit, a five-year-old San Francisco startup that claims it boosts consumers' credit scores, is facing a growing number of problems, with the latest being a new lawsuit alleging trademark infringement and unfair competition. New York-based analytics company Prism Data sued TomoCredit on Tuesday, accusing it of infringing on Prism's trademark for its CashScore service. Prism's CashScore product uses consumers' cash flow (including bank account transactions) to assess their creditworthiness. In response to questions Forbes sent to Tomo about the suit, the company's general counsel Fred Ghodoosi wrote to us in an email, “We are aware of the lawsuit and are actively investigating the matter. We anticipate being able to provide a formal comment on the lawsuit within the coming weeks.” Th Show less Read more
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