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Millions of Americans could be owed up to $280 from a major credit bureau. Here’s who qualifies
Business & Technology
Fast CompanyEN
October 29, 2026

Millions of Americans could be owed up to $280 from a major credit bureau. Here’s who qualifies

Consumer credit reporting giant Equifax has agreed to pay $100 million to settle a class action lawsuit over claims it miscalculated millions of credit scores.  The lawsuit, brought by Gibbs Mura and co-counsel, was originally filed in the U.S. District Court for the Northern District of Georgia in 2022. According to the suit, a coding error led to inaccurate credit report information between March 17 and April 6, 2022, impacting around 4 million Americans who applied for mortgages, auto loans, or credit cards during the aforementioned time frame.The suit contends that the miscalculation led to consumers receiving lower credit scores on their reports. In some cases, scores dropped by up to 20 points—enough to cause lenders to reject applicants who may have otherwise qualified for the desired loan or line of credit, the suit said. Equifax has not admitted fault in the case and has denied it violated the Fair Credit Reporting Act (FCRA). Still, the credit reporting company and the plaintiffs chose to settle the case in order “to avoid the risk, expense, and delay of further litigation, including trial and appeals,” according to the settlement website.David Berger, co-lead counsel and partner at Gibbs Mura, noted in a press release that the settlement is the largest in history related to the FCRA, and said the prosecution is “thrilled to have achieved this result for consumers after nearly four years of litigation.” He added: “Credit reporting agencies must be held accountable when they fail to take commonsense measures handling data that affects people’s livelihoods.” While the court has preliminarily approved the proposed settlement amount, a final fairness hearing will take place on January 22, 2027.  How to file a claim If your credit report was impacted by the alleged error, you should have already received a notice in your email or from the U.S. Postal Service. Check your spam folder if you did not receive a letter. If you believe you are among the 4 million Americans who may be eligible for part of the $100 million settlement, you can file a claim through Equifax’s settlement website by clicking on the “File a Claim” button. According to the site, you must submit a claim in order to receive a payment.  How much can I expect? Payments are expected to be anywhere from $95 to $280 for class members who submit a valid and timely claim; however, actual payments could be higher or lower depending on the number of claims submitted. Payments will be distributed on a pro rata basis from the net settlement fund after court-approved fees, expenses, and administration costs are deducted. When do I have to submit a claim? In order to receive a payout from the settlement, your claim must be submitted by December 28, 2026. If for any reason you wish to object or opt out of the settlement, the final date to do so is November 27, 2026. If you are excluded from the settlement, you will get no payment but will maintain the right to bring your own lawsuit against Equifax over the coding issue.  To request more information or ask questions, contact the settlement administrator at info@EquifaxFairCreditReportingSettlement.com.

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