The deadline is approaching to claim a portion of a $100 million settlement Equifax has made in a class-action suit involving a 2022 error, in which the credit bureau issued incorrect consumer credit scores.
Equifax agreed on Aug. 17, 2026 to the proposed settlement of the lawsuit, originally filed in federal court in Atlanta in August 2022. The three plaintiffs listed in the lawsuit said Equifax reported incorrect credit scores on their behalf, which prevented them from getting loans, according to the settlement website.
Between March 17, 2022 and April 6, 2022, Equifax misreported lowered credit scores for about 4 million Americans who applied for mortgages, auto loans or credit cards, the lawsuit alleges.
Equifax has agreed to the proposed settlement,
while denying the allegations raised by the lawsuit or having committed any violations of the Fair Credit Reporting Act (FCRA).
The proposed $100 million settlement is the largest in history related to FCRA, said David Berger, an attorney appointed to co-lead the case, in a news release. "We’re thrilled to have achieved this result for consumers after nearly four years of litigation," said Berger, a partner with the Oakland, California-based law firm Gibbs Mura. "Credit reporting agencies must be held accountable when they fail to take common-sense measures handling data that affects people’s livelihoods."
What is the Equifax settlement about?
The lawsuit, filed in U.S. District Court for the Northern District of Georgia, located in Atlanta, alleges that a coding error in one of the credit reporting company's computer systems led Equifax to report inaccurate credit information to lenders, insurers and other firms. In some cases, Equifax lowered scores by more than 20 points, which may have been enough to cause lenders to deny credit or charge consumers higher interest rates, the lawsuit alleges.
Equifax and the plaintiffs have opted for a settlement "to avoid the risk, expense, and delay of further litigation, including trial and appeals," according to the settlement website. "Equifax denies that it violated the law. The settlement is a compromise of disputed claims."
The court did not decide which side is right. A final fairness hearing on the proposed settlement is scheduled for Jan. 22, 2027.
Who's eligible for payment in the Equifax settlement?
You may be among the estimated 4 million Americans eligible if you had a credit score or credit attribute incorrectly reported by Equifax because of the computer coding issue between March 17, 2022 and April 8, 2022.
In August, the judge overseeing the case ordered that members of the settlement class be issued an email or mail notice about the proposed settlement. If you think you should be eligible and didn't get a notice, you may want to check your email junk folder.
For more information, you may contact the settlement administrator at info@EquifaxFairCreditReportingSettlement.com.
You can also contact the attorneys representing the plaintiffs. Their contact information is on the settlement website.
You can also get information on how to opt out of the settlement on the website.
How much money could you get from the Equifax settlement?
Settlement payments are estimated at between $95 and $280, but the actual amount may eventually be higher or lower, according to the settlement website.
To get a payment, you must submit a claim by Dec. 28. You can file a claim online on the settlement website.
You can also download a claim form from the website and mail it to the Settlement Administrator at: Equifax FCRA Litigation, P.O. Box 301132, Los Angeles, CA 90030-1132.
Mike Snider is a national trending news reporter for USA TODAY. You can follow him on Threads (mikegsnider), Bluesky (@mikegsnider.bsky.social), X (@mikesnider) and email him msnider@usatoday.com.
This article originally appeared on USA TODAY: Equifax's $100M settlement could mean cash for you. How to file claim
