Equifax may face class action after credit score glitch

Abstract

Equifax, the second-biggest global credit bureau, was hit with a proposed class-action lawsuit after a report that it provided inaccurate credit scores on millions of U.S. consumers looking for loans. The suit, filed Wednesday in federal court in Atlanta, alleges violations of the Fair Credit Reporting Act. It seeks financial damages and a court order requiring Equifax to notify all customers who were impacted by the score-reporting glitch, which The Wall Street Journal reported Aug. 2. Equifax's media office didn't immediately respond to a message seeking comment. Erroneous scores were sent from mid-March through early April, and disclosures of the errors began in May, the Wall Street Journal reported. The lead plaintiff in the suit is a Florida woman who alleges she was forced to take a less-favorable auto loan in April as a result of an inaccurate credit score. Bloomberg Intelligence analyst Nathan Dean reported the fallout from the glitch may be limited.