Consumers whose Equifax credit scores or credit attributes were inaccurately reported during a 2022 coding error can now submit claims for a share of a proposed $100 million class-action settlement. Eligible consumers must file online or mail a claim form by Dec. 28, 2026.ctinsider

The settlement stems from allegations that Equifax issued incorrectly lowered credit scores to lenders and other third parties for roughly 4 million U.S. consumers during a three-week period in spring 2022. The matter underscores the potential downstream consequences when data-integrity failures affect underwriting, pricing, and consumer access to credit.

What the Case Alleges

The litigation alleges that an Equifax coding issue caused the company to provide inaccurate scores and credit-related attributes in connection with applications for mortgages, auto loans, credit cards, and other credit products between March 17 and early April 2022.

According to reporting on the settlement, some affected scores were allegedly more than 20 points lower than they should have been. Plaintiffs contend such differences could have contributed to credit denials or higher interest rates for affected applicants. Equifax’s proposed $100 million agreement does not by itself constitute an admission of wrongdoing.news.bloomberglaw+1

The class action is pending in federal court in Georgia, and the settlement received preliminary approval in August. A final fairness hearing is set for Jan. 22, 2027.news.bloomberglaw+1

Who May Be Eligible

The proposed settlement class generally includes U.S. consumers for whom Equifax reported an inaccurate credit score or credit attribute to a third party because of the coding issue during the relevant 2022 period.

Eligible consumers should have received a notice by email or U.S. mail, according to the settlement information. Importantly, consumers are required to submit a claim to obtain a payment; notice alone does not trigger compensation.ctinsider

Settlement materials indicate that class members’ awards will be calculated on a pro rata basis from the available net settlement fund. Estimated individual payments have been reported in a range of approximately $95 to $280, although actual awards may be higher or lower based on the number of valid claims, legal fees and costs, administrative expenses, and other court-approved deductions.ctinsider+1

How Consumers Can File

Consumers may submit claims through the settlement website, EquifaxFairCreditReportingSettlement.com, or download and mail a claim form to the settlement administrator:

Equifax FCRA Litigation
P.O. Box 301132
Los Angeles, CA 90030-1132

Online claims must be submitted, and mailed forms must be postmarked, no later than Dec. 28, 2026.ctinsider

Consumers who received individualized settlement notices should retain the Claim ID and PIN included with those notices, as they may be needed to complete an online filing.claimdepot

Credit and Collections Implications

For lenders, furnishers, collection agencies, and other financial-services companies, the settlement is a reminder that credit data and scoring outputs are operationally consequential even when an error is temporary. A score variance can affect not only approval decisions but also risk-based pricing, credit-line amounts, collateral requirements, adverse-action workflows, and subsequent account performance.

The case also highlights several compliance and vendor-management considerations:

• Data validation: Institutions relying on third-party credit data should maintain reasonable controls for identifying anomalous score movements or unexpected attribute changes.

• Adverse-action accuracy: When a credit decision is based in whole or part on consumer-report information, firms should ensure their adverse-action processes accurately reflect the information used at the time of the decision.

• Complaint management: Companies may need procedures to identify and address consumer disputes tied to known bureau or data-provider incidents.

• Vendor oversight: Organizations should evaluate whether contracts, escalation channels, and incident-notification practices with consumer reporting agencies are adequate for material data-quality failures.

The ultimate consumer payment amounts remain uncertain pending final approval and the claims process. But the $100 million deal—described in court reporting as covering about 4 million consumers—illustrates the scale of exposure associated with credit-reporting and scoring errors that reach the marketplace.