Equifax Reaches 100 Million Dollar Settlement Over Credit Score Errors

A federal judge granted preliminary approval on August 17, 2026, to a 100 million dollar class-action settlement against Equifax over a coding error that caused inaccurate credit scores for approximately 4 million consumers.

The error occurred between March 17, 2022, and April 6, 2022. A glitch in Equifax's systems caused the company to report lower credit scores to lenders. In some cases, scores dropped by more than 20 points. Affected consumers who applied for mortgages, auto loans, or credit cards during that period may have been denied credit or offered higher interest rates as a result.

The lawsuit, filed in the U.S. District Court for the Northern District of Georgia, alleged that Equifax was reckless in its reliance on outdated legacy systems and insufficient testing protocols. Equifax denied any wrongdoing as part of the settlement.

The 100 million dollar fund is non-reversionary, meaning any unclaimed money will not be returned to Equifax. It will instead be distributed among eligible claimants.

A final fairness hearing is scheduled for January 22, 2027. The claims process has not yet opened. Once the court approves the settlement notice, eligible consumers are expected to have a 90-day window to submit claims.

Authorities advise consumers to be cautious of scams. No payments are currently being distributed, and no official claims process is active. People who applied for credit during the affected period should keep records of any denials or unfavorable interest rate offers while awaiting further instructions.