Equifax Settles Class-Action Lawsuit Over Duplicate Collection Account Reporting
A class-action lawsuit against Equifax has been settled for $2.2 million after the credit reporting agency was accused of erroneously listing collection accounts multiple times on consumer reports, violating federal law. The case originated from a Georgia woman who claimed her mortgage application was denied due to this error affecting her credit score. While denying any wrongdoing, Equifax agreed to provide up to $600 in cash compensation per affected individual and six months of free credit monitoring services. The settlement affects approximately 37,000 consumers whose duplicate collection accounts were reported between August and September 2022. Eligible claimants received notifications by mail or email during that period. The court is set to finalize the agreement on October 6, 2026, after which payouts will begin. Claims must be submitted online or via mail before September 1, 2026. The settlement also includes a commitment from Equifax not to report duplicate collection accounts for six months moving forward.
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Topics: credit_reporting legal_case settlement