Equifax Agrees to $100 Million Credit Reporting Settlement
Eligible U.S. consumers affected by a 2022 coding error could receive payments of roughly $95 to $280 if the settlement is approved.
Updated on Nov. 10, 2026 in Taxes
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Equifax has agreed to a proposed $100 million settlement over allegations it reported inaccurate credit information to lenders. Equifax denies wrongdoing and has not admitted liability, and the settlement is not final.
Why it matters
The settlement addresses claims that credit scores and attributes sent to third parties were wrong, which can affect loan and credit decisions. Equifax said it agreed to settle to avoid the expense and uncertainty of continued litigation.
The proposed $100 million settlement would pay eligible consumers an estimated $95 to $280 each, though actual amounts depend on how many valid claims are filed and on deductions for fees and administrative costs. The court's final approval hearing is scheduled for January 22, 2027, and the final payout total remains unknown until claims close.
The players
Equifax
Equifax is one of the three major U.S. credit reporting agencies, which collect and sell consumer credit information to lenders and other businesses.
The details
The settlement covers a coding error that affected Equifax's credit reporting system between March 17 and April 8, 2022, causing inaccurate credit scores or attributes to be reported to third parties. To qualify, a consumer must be located in the United States and must have had a credit score or attribute affected during that window. Eligible consumers received notice by email or regular mail from the settlement administrator and can file a claim through the official Equifax settlement website using the Claim ID from their notice.
Timeline
March 17 to April 8, 2022: Equifax's credit reporting system was affected by a coding error.
November 27, 2026: Final date to opt out of the settlement.
December 28, 2026: Final date to submit a valid claim form.
January 22, 2027: Court's final approval hearing is scheduled.
Legal Context
The case turns on the accuracy duties that the federal Fair Credit Reporting Act imposes on credit reporting agencies, which require reasonable procedures to ensure reported information is correct. A payment tied to a technical coding error shows how such accuracy obligations are enforced through class action settlements rather than individual lawsuits.
Eligible consumers may receive a payment of roughly $95 to $280 if they file a valid claim by December 28, 2026. Checking your own credit report at the free federally authorized site can help you spot any errors tied to the 2022 coding issue.
The takeaway
Review your credit reports regularly, since reporting errors can affect lending decisions. Watch the claim deadlines if you received a settlement notice, because late filing forfeits the payment.
What happens next
The court's final approval hearing is scheduled for January 22, 2027, and the claim and opt-out deadlines fall on November 27 and December 28, 2026, before that hearing.
Further reading
For broader context on personal money matters, see Taxes coverage on how financial records and reporting affect everyday households.
More information
You can check your credit reports for free at the free federally authorized credit report website.
Source note: This article includes information reported by Clark Howard.
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