Florida woman files class action lawsuit against Equifax over credit score errors

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Woman files class action lawsuit against Equifax over credit score errors

errors by Equifax that the firm blamed on a coding mistake has now led to a class action lawsuit brought by a Florida woman who claims the company violated the Fair Credit Reporting Act by providing inaccurate credit scores.

Nydia Jenkins claims that because of Equifax's error, her credit score was off by 130 points when she applied for a car loan, resulting in her getting denied before having to take a different loan that is costing her $150 more per month.

The Wall Street Journal reported that Equifax told an auto lender that just 10% of applicants had wrong scores due to the glitch, which impacted applications for a three-week period in March and April. That number is far from small, however, given that lenders requested a total of roughly 2.5 million

 

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WSJ News Exclusive | Equifax Sent Lenders Inaccurate Credit Scores on Millions of ConsumersEquifax provided inaccurate credit scores on millions of Americans seeking home, car and credit-card loans, people familiar with the matter said, resulting in higher interest rates and denied applications for some consumers What a perfect capitalist scam. Credit rating companies make money selling your data and lenders make money because the data is bogus. A win win for both of them. Of course the non-existent government won't do a thing about it. Disband Equifax then. They should immediately stop operating. Time to start breaking up these corrupt companies and removing them of their power.
Source: WSJ - 🏆 98. / 63 Read more »