When Senator Kelly Loeffler (R-GA) added her name to a letter to financial regulators in May, urging them not to change consumer credit reporting requirements during the pandemic, it seemed like a good fit. home state policy case for the first time. -year of senator.
Democrats had pushed to suspend negative credit reports following the economic impact of COVID-19. But this was strongly opposed by the so-called Big Three credit bureaus: Equifax, Experian, and TransUnion. And one of those three, Equifax, is headquartered in Atlanta, Loeffler’s hometown.
But soon after signing the letter, her focus also aligned perfectly with her personal financial interests. In August, Intercontinental Exchange – the company run by Loeffler’s husband Jeffrey Sprecher – announced the $ 10 billion acquisition from mortgage data giant Ellie Mae, who had been hurt by a proposal for a credit reports moratorium.
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