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Experian credit reporting class action settlement overview:
- Who: Experian has agreed to a $22.45 million class action settlement with consumers.
- Why: The class action settlement was made to resolve claims Experian harmed consumers’ ability to obtain credit by putting out credit reports that contained inaccurate and/or obsolete information.
- Where: The class action lawsuit was filed in Virginia federal court.
Experian has agreed to pay $22.45 million to resolve claims it hurt consumers’ ability to get credit by adding allegedly inaccurate and untrue information to their credit reports.
The consumer credit reporting company also agreed to a settlement which will compensate tens of millions of individuals whose addresses Experian inaccurately flagged as being high risk or non-residential.
Plaintiff Lisa Hill-Green accused Experian in September 2019 of making her a credit report which used an outdated home address with incorrect information to report it as high-risk for credit fraud, reports Law360.
Green argued Experian was legally obligated under the Fair Credit Reporting Act to put out credit reports which are as accurate as attainable and that don’t include any adverse information that is obsolete.
Experian agrees to reconfigure update process for non-residential addresses
Preliminary approval of an injunctive relief settlement was granted by a federal judge shortly after discovery in November, with a nationwide settlement Class of consumers certified at that time, reports Law360.
Experian agreed in the injunctive relief settlement to reconfigure its update process for non-residential addresses and to “stop publishing certain Fraud Shield indicators altogether,” among other things.
Final approval of the injunctive relief settlement was granted in April, meanwhile, while the remaining issues continued to be negotiated up to the two deals reached on Friday, reports Law360.
A jury trial began in June for a complaint alleging Experian falsely reported that a Florida consumer was delinquent on his mortgage payment and then passed off the investigation to a seperate company.
If your credit report has been damaged due to identity theft or fraud, you may qualify to join an identity theft credit damage recovery lawsuit investigation.
The plaintiff is represented by Kristi C. Kelly, Andrew J. Guzzo, Casey S. Nash, and J. Patrick McNichol of Kelly Guzzo PLC, Leonard A. Bennett and Craig C. Marchiando of Consumer Litigation Associates PC, and E. Michelle Drake and Joseph C. Hashmall of Berger Montague.
The Experian credit reporting class action lawsuit is Hill-Green v. Experian Information Solutions Inc., Case No. 3:19-cv-00708, in the U.S. District Court for the Eastern District of Virginia.
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322 thoughts on$22.45M Experian settlement resolves claims over inaccurate credit reporting
Recently, Experian has taken the opportunity to lower my credit score twice, when I actually used a few of my credit cards a bit more than my average. There have been no late pays, simply CC use that was greater than what I had used in the past. My bills are paid and in one case, I moved credit card balances from my credit union issued credit card to a zero interest balance transfer option Citi Bank credit card. I made a sound financial decision to open the Citi Bank 21 months zero interest balance transfer CC so that I could eliminate interest payments while I paying off the balance. So, for my efforts what do I get in return, a reduced credit score. Later, I used my Amazon CC a bit more than usual, again they dropped my credit score. Most recently, I paid off one credit card and paid down another by doing another balance transfer to my Citi Bank CC. Again, Experian dropped my credit score for paying off one card, using one a bit more than normal, and transferring two balances to the Citi Bank CC. It is said when some of my balances go down, I do not get notified that my credit score was increased, so what the hell. How is it any of Experian’s business that I use my credit cards while I have been paying them off so that they can drop my FICO score. Nothing wrong was done here, yet I am punished for using my credit cards and, wisely, opening a zero interest balance transfer CC to speed the balance repayment. Since opening the Citi Bank CC, I have not made any purchases directly with that card, only balance transfers. I wish someone in government would take notice and put some controls in place to address what Experian is doing to people’s credit scores. In fairness, I have not been denied credit, but it is the principle of the thing here and when making large purchases, a lowered credit score can increase the cost of borrowing. So a question here, is Experian aligned with Credit Unions to reduce the credit score of customers that move their interest bearing CC balances to a zero interest balance transfer card? To those who have experienced the same treatment, please post your stories here. The more of us who complain, could get noticed by someone who can do something about it. The credit bureaus are powerful entities, too powerful and unregulated IMO.
Experience dropped my score for no reason at all. I believe they did this because some of my purchases don’t align with there agenda. I will be starting a claim next week.
Have a great day.
Honestly, these credit bureaus are profiting off of the inaccurate and negative information they keep on consumers. They aren’t held accountable and there is no new laws in place to force compliance, maybe the gov should start financially consumers everyday until the inaccurate info is removed. Maybe that would light a fire under someone to actually fix the problems.
Honestly, these credit bureaus are profiting off of the inaccurate and negative information they keep on consumers. They aren’t held accountable and there is no new laws in place to force compliance, the gov doesn’t help most of the time even when the info is proved inaccurate. They should just get rid of these credit bureaus all together anyway, they are just a bunch of criminals in other countries that help the US discriminate against certain people in a class system. The place was fine before the whole credit system came into play, and honestly if it was gone it would be fine still. If they aren’t going to fix the root of the problem then they need to start financially compensating consumers everyday for the inaccurate info caused by the creditors and credit bureaus, and for god sakes why can a medical condition or injury ruin someone’s credit in 1 or 2 months, I thought disability was supposed to be a protected class in the US (apparently not in the credit system)? There need to be safeguards in place so that potential lenders and creditors cant just deny based on the inaccurate info of these creditors and credit bureaus, it is truly ridiculous that people’s approvals are being weighed so heavily against a totally broken system.