Phoenix office of real estate giant Equifax Inc. is selling its stocks, and its first-quarter results are set to show a drop in revenue.
Equifax’s stock was down more than 6 percent Friday morning after the credit agency said it missed an expected increase in U.S. sales of consumer credit card and auto loan debt in the second quarter.
The company’s shares were down 3 percent in after-hours trading Friday.
Equivalence Holdings Inc., Equifax, and Bank of America Corp. have been the focus of a regulatory investigation by the Justice Department, and it could lead to the companies’ bankruptcy.
But Equifax stock fell more than 20 percent Thursday on news of the investigation, as did Equifax shares.
The U.K. Financial Conduct Authority is also investigating the Equifax case.
A company spokeswoman said Equifax had made a “mistake” in its handling of the credit card transaction and said the company was taking steps to correct it.
Equivs sales declined 3 percent to $6.7 billion.
The credit card firm is one of the biggest sellers of consumer and business credit cards.
The decline came as Equifax and other major U.C. Berkeley-based credit card companies have been on the defensive.
The companies said Thursday that the government is examining the situation and said it is reviewing the report.
Equitibank Inc. also said Thursday it was reviewing Equifax findings.
Equigain, another credit card company, said Thursday its shares fell nearly 10 percent to their lowest in more than a year.