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​Experian-ClearScore deal raises concerns over credit comparison, UK regulator says

( August 28, 2018, 14:05 GMT | Official Statement) -- MLex Summary: Experian’s proposed purchase of ClearScore raises concerns that the companies may be each other’s closest competitors in the supply of credit-comparison platforms on both consumer and lender sides of the market, the UK antitrust authority said today. In a statement outlining the scope of its inquiry into the deal, the Competition and Markets Authority said this closeness is due to the "similarities of their offers" in terms of the way consumers are introduced via associated credit checking tools, the ability to provide personalized product recommendations and a degree of "engagement" which is attractive to lenders. The deal to combine the credit-score checking companies will face an in-depth probe. The CMA said it is concerned the merged company would be less likely to innovate to help people better understand their finances, potentially leading to people paying more for credit cards and loans. The deadline for the CMA's final decision is Jan. 14.The statement is attached....

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