Millions of Americans could be owed up to $280 from a major credit bureau. Here’s who qualifies
Consumer credit reporting giant Equifax has agreed to pay $100 million to settle a class action lawsuit over claims it miscalculated millions of credit scores. The lawsuit , brought by Gibbs Mura and co-counsel, was originally filed in the U.S. District Court for the Northern District of Georgia in 2022. According to the suit, a coding error led to the inaccurate credit report information between…
Consumer credit reporting giant Equifax has reached a settlement of $100 million to address claims that their systems inaccurately calculated credit scores for millions of Americans between March 17 and April 6, 2022. The error was due to a coding mistake that impacted around 4 million individuals seeking mortgages, auto loans, or credit cards during that time.
The incorrect credit scores resulted in some consumers being denied loans or credit lines they would have otherwise qualified for, with some experiencing a drop in their scores of up to 20 points. Equifax denies any wrongdoing but has chosen to settle to avoid further litigation. The settlement is the largest in history related to the Fair Credit Reporting Act (FCRA).
The court has preliminarily approved the settlement amount, but a final fairness hearing is scheduled for January 22, 2027. If your credit report was affected, you should have received notification via email or postal service. You can file a claim through Equifax's settlement website to receive a payment ranging from $95 to $280, depending on the total number of claims submitted.
The deadline to submit a claim is December 28, 2026, and objections or opting out must be made by November 27, 2026.
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