How much money does the Equifax chief executive officer make a year?

According to Forbes, Equifax’s Chairman and Chief Executive, Richard Smith, made over $11 million in 2011.  Equifax compensated Smith as follows in 2011:

$1,450,000  Salary

$2,940,530  Stock Awards

$1,891,062  Option awards

$2,310,627  Non-equity incentive plan

$2,323,000  Change in pension value & nonqualified deferred compensation earnings

$98,019  Other compensation

$11,013,238  TOTAL COMPENSATION FOR 2011

Equifax’s corporate office is located in Atlanta, Georgia and the company employs approximately 7,000 people.   According to its website, Equifax “leverage[s] one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.”  In other words, Equifax sells consumer data to businesses.  These reports are known as credit reports.

Equifax is a consumer reporting agency.  Accordingly, Equifax must comply with federal law, including the Fair Credit Reporting Act (FCRA).  Consumers have rights under the FCRA.  For example, you have the right to a free annual credit report once every 12 months.  You may obtain a free credit from the nationwide consumer reporting agencies, including Equifax.  We suggest that you request your free credit report by mail – don’t request your report online or by telephone.  You can download the mail request form HERE.

If you do not request your report, then you will not know if you have errors on your credit report. Consumers also have the right to dispute errors on their credit reports.  Credit reports error can cause you to get denied for credit, employment or housing.  If you find errors on your credit reports, then you should dispute the inaccurate information to Experian, Equifax and Trans Union.  Your dispute should be sent to the credit bureaus by certified mail.  Do not make disputes online or by telephone.  Click HERE for a sample dispute letter.

Have the credit bureaus verified disputed information?  Have the credit reporting agencies refused to delete inaccurate information from your credit file?  If you answered yes, then you need to speak to a Fair Credit Reporting Act attorney.  For a free case review contact us 24/7 at 1-800-263-9091.   Remember, it’s your credit report!