How to claim part of the $2.2 million Equifax class action settlement
Affected consumers have until September 1 to claim up to $59.70 from a $2.2 million Equifax settlement.Summary
Approximately 37,000 consumers have until September 1 to submit claims for up to $59.70 as part of a $2.2 million class action settlement against Equifax. The settlement addresses violations of the Fair Credit Reporting Act occurring in 2022, when the credit bureau duplicated negative information—such as collection accounts or late payments—on consumer credit reports. Such errors can significantly damage credit scores, potentially dropping them by over 120 points and increasing borrowing costs for affected individuals.
Eligible participants have been notified via email or postcard and can file their claims through the official settlement website. The website also offers details regarding the lawsuit and instructions for those wishing to opt out. This legal action follows a history of issues for Equifax, most notably a 2017 massive data breach that resulted in a $425 million settlement. The article also notes that other major credit bureaus, including Experian and TransUnion, have faced similar legal settlements regarding data breaches and Fair Credit Reporting Act violations.
(Source：The Independent)