Nydia Jenkins' lawyers are seeking class-action status for the lawsuit. Jenkins had a loan pre-approval in January that would have resulted in an estimated $350 monthly car payment. A Toyota dealership denied her auto loan in early April, according to a lawsuit.

Jenkins later got financing for a different loan at a different car dealer. She’s paying $252 every two weeks, a $504 monthly cost and an extra $154 per month. In the denial letter, Jenkins “saw that her credit score, reportedly furnished by Equifax, was inaccurate by 130 points,” the lawsuit said.

Less than 300,000 people had their credit scores change by over 25 points, Equifax says. Jenkins’ lawyers say Equifax violated the Fair Credit Reporting Act’s requirements for accuracy. “Equifax will respond more fully in its court filings at the appropriate time,” spokesperson says.

The damages that Jenkins and other potentially affected consumers “bear as a result of the glitch cannot be rectified by merely updating the affected credit reports,” court papers say. A person’s credit score is a key determinant of their financial well-being.

The coding error is another challenge for the company. In 2017, the company disclosed a massive data breach that exposed the personal information of 147 million people. That culminated in court settlements with up to $425 million for people affected by the breach. There are also pending 2020 charges against Chinese military personnel for the cyber attack.
Posted by CA carly
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