EQUIFAX MESSED UP CREDIT SCORES... NOW THERE'S A $100 MILLION SETTLEMENT?! 👀💵

If you applied for credit back in 2022 and something about that approval, denial, interest rate or credit score had you sitting there thinking...

“NOW WAIT A DAMN MINUTE... THAT AIN'T RIGHT.”

You might want to pay attention to THIS.

Equifax has agreed to a whopping $100 MILLION class-action settlement over allegations that a computer coding error caused inaccurate credit scores to be sent to lenders for millions of consumers.

And before everybody starts checking Cash App...

NO, YOU CANNOT GO CLAIM YOUR MONEY TODAY. 😂

The settlement has received preliminary court approval, and the claims process still has to move forward.

But this one is definitely worth watching.

😳 SO WHAT DID EQUIFAX ALLEGEDLY DO?

According to the lawsuit, Equifax experienced a coding error between March 17 and April 8, 2022.

During that roughly three-week period, certain credit scores and credit attributes Equifax supplied to lenders differed from what they would have been if calculated correctly.

And we're talking about approximately...

4 MILLION PEOPLE.

FOUR.

MILLION.

PEOPLE.

According to the plaintiffs' attorneys, the proposed $100 million agreement would be the largest class-action settlement ever achieved under the federal Fair Credit Reporting Act. 

Now hold on.

Because this is where Lady Red has questions.

🔴 LADY RED SAYS...

Y'ALL HAD A GLITCH... IN THE CREDIT SCORES?!

😂

Not the font.

Not the website background.

Not whether my middle initial was missing.

THE DAMN CREDIT SCORE?!

You know, that little three-digit number folks use to decide whether I can get a:

🏠 Mortgage🚗 Car💳 Credit card💰 Loan

AND what interest rate they're about to slap upside my head with?!

THAT had a glitch?!

Baby, that's not the department where I want to hear:

“WHOOPS.”

😂😂😂

Because a few points can MATTER when somebody is sitting on the edge of qualifying for something.

And according to the lawsuit, consumers alleged that Equifax sent inaccurate scores to lenders because of the error.

Equifax, however, denies liability and wrongdoing, and the company has said most consumers seeking credit experienced no score change while some scores actually increased. The settlement resolves the litigation without Equifax admitting wrongdoing.

So everybody wasn't necessarily hurt by this.

But millions of consumers were potentially affected.

💵 SO WHO COULD GET MONEY?

Here's the important part.

The proposed settlement covers U.S. consumers whose Equifax credit scores were misreported because of the 2022 coding issue.

Under the proposed terms, eligible class members who submit valid claims would receive a pro-rata share of the settlement fund after approved attorneys' fees, administrative expenses and other costs are deducted.

Translation:

DON'T START SPENDING YOUR PORTION OF $100 MILLION. 😂

They're not dividing $100 million equally among four million people and dropping checks tomorrow.

The amount each eligible person receives will depend on the final settlement terms and how many valid claims are submitted.

🚨 AND THIS IS NOT THE OLD EQUIFAX SETTLEMENT

This is VERY important.

You may remember the huge Equifax settlement connected to the 2017 data breach, when personal information belonging to approximately 147 million people was exposed.

THIS AIN'T THAT.

That was a completely separate case.

This new $100 million proposed settlement concerns inaccurate credit scores associated with the 2022 coding error.

So don't Google “Equifax settlement,” land on the old data-breach website and think you found the new claim form.

Different mess.

Different lawsuit.

Different settlement.

Lord, Equifax got sequels. 😭

📌 WHAT SHOULD YOU DO RIGHT NOW?

If you applied for a mortgage, auto loan, credit card or other credit during that March 17 through April 8, 2022 period, this is a story worth keeping your eye on.

The court filings say that, once the process moves forward, a public settlement website is expected to be created where consumers can get information and submit claims. Class members will also have an opportunity to object to or opt out of the settlement.

So right now:

DON'T PAY ANYBODY TO “FILE” THIS CLAIM FOR YOU.

And don't start clicking random Facebook links saying:

“EQUIFAX $100 MILLION SETTLEMENT! GET YOUR $5,000 NOW!”

Because you KNOW Scammy Davis Jr. and the Internet Hustlers are probably warming up backstage already. 😭

Wait for the official court-authorized settlement information.

🔴 LADY RED SAYS...

Credit is already confusing enough.

One bureau says 620.

Another says 647.

The app says 658.

The car dealership pulls it and says:

“MA'AM, WE HAVE A 583.”

WHOSE CREDIT FILE ARE Y'ALL LOOKING AT?!

😂😂😂

Now you're telling me there was a coding error too?!

Listen...

If somebody was trying to buy a house or car during those weeks in 2022 and got denied because an inaccurate score was supplied, that wasn't just a number on a screen.

That could've affected somebody's LIFE.

That's why this settlement matters.

The court gave the agreement preliminary approval on August 17, 2026, so there are still steps before payments can happen.

But when that official claim information becomes available...

730 BOOM IS WATCHING THIS MONEY. 👀💰

Because if Equifax owes somebody some coins...

We want you to know how to find out whether some of those coins have YOUR NAME ON THEM.

730 BOOM RADIO 📻

IT HITS DIFFERENT. EVERY TIME. BOOM! 💥