The error potentially caused some borrowers to be wrongfully denied loans or pay higher rates.
In certain cases the errors were significant enough -- the differential was at least 25 points for around 300,000 consumers.
In certain cases the errors were significant enough -- the differential was at least 25 points for around 300,000 consumers -- that some would-be borrowers may have been wrongfully denied credit, the company said in a statement. The problem occurred because of a "coding issue" when making a change to one of Equifax's servers, according to the company, which said the issue "was in place over a period of a few weeks; resulted in the potential miscalculation" of credit scores.
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Equifax issued wrong credit scores for millions of consumersThe error potentially caused some borrowers to be wrongfully denied loans or pay higher rates.
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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
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Equifax admits it issued wrong credit scoresEquifax is blaming a coding issue for issuing wrong credit scores. Equifax says the scores were off by at least 25 points for around 300,000 consumers.
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Florida woman files class action lawsuit against Equifax over credit score errorsFlorida woman Nydia Jenkins filed a class action lawsuit in federal court against Equifax over inaccurate credit scores the company blamed on a coding issue.
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Millions of inaccurate Equifax credit scores sent to lendersThese false credit scores resulted in some people getting higher interest rates and others being denied.
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Millions of inaccurate Equifax credit scores sent to lendersThese false credit scores resulted in some people getting higher interest rates and others being denied.
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