Finance History|11 Wall Street — Retail Credit Leaves the Over-the-Counter Book
· 1971-5
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Finance History|11 Wall Street — Retail Credit Leaves the Over-the-Counter Book
kevin
People treat Equifax as an Atlanta data house that always printed EFX after a finished credit-file book.
The May 1971 issuer was still Retail Credit Company, incorporated in Georgia on 20 December 1913 and already trading over the counter since 1965.
Equifax's investor FAQ states the fact in one sentence. The company's stock began trading over the counter in 1965 and was listed on the New York Stock Exchange for the first time on 11 May 1971.
FinanceCharts records the same first NYSE date. The present ticker is EFX.
The Fair Credit Reporting Act had been signed the year before and took effect in April 1971. It gave consumers a right to see their files and limited what a bureau could sell. Retail Credit's listing arrived in that first season of federal file rules, not in a vacuum.
The mechanism is a move from the over-the-counter sheet onto the Big Board tape. The same company kept the same files. The market that printed the shares changed.
Retail Credit changed its name to Equifax later in the decade. The investor FAQ lists cash dividends every year since 1920 and a chain of splits that includes a 10-for-1 in 1956.
The pin is the Broad Street facade of the Exchange. Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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