Equifax proposes $100 million settlement for 2022 credit‑score coding error
Equifax has offered a $100 million class‑action settlement to resolve claims that a coding error in spring 2022 caused inaccurate credit scores for millions of U.S. consumers. The settlement covers roughly 4 million people who received a score or attribute between March 17 2022 and April 8 2022. Eligible claimants must file by Dec 28 2026 to receive an estimated payment of $95 to $280, with a final‑approval hearing set for Jan 22 2027. Equifax denies wrongdoing but acknowledged the coding issue.
Why it matters
The settlement could provide cash payments to up to 4 million consumers, reducing potential future litigation costs for Equifax. The final court approval in January 2027 will determine the exact payout amounts and the firm’s liability exposure.
Key facts
- 1Equifax proposes a $100 million settlement for U.S. consumers affected by a 2022 coding error. theepochtimes.com
- 2The settlement covers consumers whose credit score or attribute was reported between March 17 2022 and April 8 2022. theepochtimes.com
- 3Attorneys say the settlement could cover roughly 4 million people nationwide. theepochtimes.com
- 4Eligible claimants may receive between $95 and $280 each. theepochtimes.com
- 5Claims must be filed by Dec 28 2026; objections must be filed by Nov 27 2026. theepochtimes.com
- 6A final approval hearing is scheduled for Jan 22 2027. theepochtimes.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.