Equifax Credit Score Coding Error Class Action
Equifax · Consumer credit scoring and credit reports · Other
About this case
The proposed class action alleges that a 2022 coding error distorted some consumers’ credit scores during applications for auto loans, mortgages, and credit cards, potentially affecting about 4 million consumers. Equifax denies violating the law, and a proposed $100 million settlement has been filed in federal court and remains subject to judicial approval.
Case overview
- Defendant company
- Equifax
- Product or service
- Consumer credit scoring and credit reports
- Court case number
- 1:22-cv-03072
- Case status
- Other
- Lawsuit type
- Consumer
- Reported harm
- Other
Participation information
Settlement Claim
Individuals in the United States whose Equifax credit score or credit attribute differed from what it would have been without the coding issue and was reported by Equifax to a third party in connection with a transaction identified in Equifax's analysis, during approximately March 17 through April 8, 2022, may fall within the proposed settlement class.
- Type
- Settlement Claim
- Status
- Upcoming
- Total settlement amount
- $100,000,000
- Payout
- Eligible claimants who submit timely, valid claims are expected to receive a pro rata cash payment from the settlement fund. The individual payment will depend on the number of valid claims and other approved deductions; no proof is required according to the available settlement description.
- Reported proof requirement
- No
Sources
- Equifax Credit Score Coding Error Class Action
The Daily Hodl ·