Attorney General James Secures $725,000 Settlement with Equifax Over Inaccurate Credit Scores
(WNY News Now) After Equifax Information Services, LLC misreported credit scores for tens of thousands of New Yorkers, Attorney General Letitia James of New York announced a $725,000 settlement with the firm.
NEW YORK Equifax Information Services, LLC (Equifax) and New York Attorney General Letitia James reached a settlement today for falsely reporting tens of thousands of New Yorkers' credit scores to lenders, increasing the cost of loans and other products between March and April 2022. Lenders and insurers priced some of their loans and policies higher than they would have if Equifax had provided accurate credit reports because of a coding error that caused Equifax to fraudulently decrease consumers' credit ratings. Equifax will pay $725,000 as part of the settlement and put additional...