James today announced a settlement with Equifax Information Services, LLC (Equifax) for inaccurately reporting tens of thousands of New Yorkers’ credit scores to lenders, inflating costs for loans and other products between March and April 2022. Due to a coding error, Equifax falsely lowered consumers’ credit scores, leading lenders and insurers to price some of their loans and policies higher than they would have if Equifax had provided accurate credit reports. As a result of the settlement, Equifax will pay $725,000 and implement more safeguards to prevent future errors that raise costs for consumers. 

“Credit scores affect some of the most significant parts of New Yorkers’ lives, from the cars they can buy, to the housing they live in, to their ability to start a small business. Consumers depend on credit bureaus like Equifax to report their credit history accurately. Equifax’s failure to do its most basic job inflated costs for consumers across New York. This settlement will help those affected get restitution, and my office will continue to hold companies accountable when they wrongly raise costs for consumers.”  – AG James

https://ag.ny.gov/press-release/2025/attorney-general-james-secures-725000-equifax-harming-consumers-through