Experian Consumer Report Class Action Settlement

Individuals who found inaccurate CashCall loan information on their Experian consumer report may be eligible to benefit from a new $5 million settlement. The settlement deal provides payments of around $250.

The settlement benefits individuals whose Experian consumer report contained an account from CashCall reflecting delinquency of a loan originated by Western Sky Financial after Jan. 1, 2015.

Plaintiff Wanda Smith in the Experian consumer report class action lawsuit argued that the credit bureau included significant errors on consumer credit reports. Allegedly, the credit bureau allowed a deceptive and illegal loan scheme to impact consumer credit scores.

Smith challenged a loan scheme from Western Sky and CashCall in which Western Sky operated as a tribal company — an alleged attempt to skirt federal loan laws. As a result, the lender was reportedly able to issue online loans ranging from $850 to $10,000 and bearing interest rates as high as 342.86%.

Under these abusive terms, consumers like Smith allegedly suffered from significant credit score problems. However, Experian reportedly failed to protect consumers and instead encouraged the scheme.

Experian was allegedly aware of the scheme but approved these loans because they generated millions of dollars in profits each year. Smith contended in her class action lawsuit that the company was even aware of the pending lawsuits from federal regulators.

“Notwithstanding, Experian continued to approve CashCall’s applications to access more products and services from Experian,” the consumer report class action lawsuit argued.

“Under the comments section of the membership review, Experian wrote: ‘There are many complaints and law suits [sic] against CashCall but nothing difinitive [sic] showing CashCall has broken any laws has been found.’”

According to Smith, Experian violated the Fair Credit Reporting Act (FCRA) by preparing inaccurate credit reports including delinquent loan accounts from CashCall — even after they were deleted in December 2014. Experian has not admitted any wrongdoing in relation to the “rent-a-tribe” scheme but has agreed to pay $5 million to resolve the claims against it.

Under the terms of the Experian consumer report class action settlement, Class Members can collect cash payments of around $250. Exact payouts will depend on the number of Class Members who choose to participate in the settlement and the net settlement fund after fees and costs are deducted.

No claim form is required to benefit from the Experian consumer report settlement — eligible Class Members will automatically be given payments under the settlement. However, Class Members do have the option to exclude themselves or object to the settlement terms by Oct. 14, 2020.

The final approval hearing for the Experian consumer report class action settlement is Nov. 9, 2020.

Who’s Eligible

Individuals whose Experian consumer report contained an account from CashCall reflecting delinquency of a loan originated by Western Sky Financial after Jan. 1, 2015.

Potential Award

$250 (estimated).

Exact payouts will depend on the number of Class Members who choose to participate in the settlement and the net settlement fund after fees and costs are deducted.

Proof of Purchase

No proof required in order to benefit from the settlement.

Claim Form

There is no claim form for this settlement. Class Members with further questions can click here for more information.

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Exclusion Deadline

10/14/2020

Case Name

Smith v. Experian Information Solutions Inc., Case No. 8:17-cv-00629-CJC-AFM, in the U.S. District Court for the Central District of California

Final Hearing

11/09/2020

Settlement Website

www.ExperianCashCallSettlement.com

Claims Administrator

Smith v. Experian Class Action
c/o Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
[email protected]
1-833-300-8215

Class Counsel

Norman E. Siegel
J. Austin Moore
STUEVE SIEGEL HANSON LLP

Defense Counsel

Richard J. Grabowski
John A. Vogt
JONES DAY

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