Equifax Agrees to $100M Settlement Over Accusation of Miscalculated Credit Scores

Equifax has agreed to a proposed $100 million class-action settlement over accusations that it miscalculated credit scores due to a coding glitch. The settlement still needs final approval from a federal judge before consumers can receive a payment.

According to court records, Equifax misreported lower credit scores for roughly 4 million consumers during a three-week period in 2022 before correcting the error. The credit reporting giant did not admit any wrongdoing as part of the preliminary settlement.

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