Equifax settles case with woman who sued after a credit file mix-up allegedly ‘destroyed’ her family’s life

NY Consumer Law – NY Credit Report Errors Attorney

A separate “mixed file” case against Equifax went to trial in 2013 and ended with a $18.6 million jury award. The sum was reduced to $1.62 million in damages and $300,000 in legal fees during post-trial proceedings.

During that trial, an expert for Equifax testified mixed files could happen in 1% to 2% of all credit files. More than 200 million Americans are on file with at least one of the three major credit bureaus, the Consumer Financial Protection Bureau said.

An Equifax spokesman declined to comment on the settlement.

Shares of Equifax are up more than 48% from the start of the year. The Dow Jones Industrial Average DJIA, +0.68%   is up 19% and the S&P 500 Index SPX, +0.75%   is up more than 25% in that same time.

Read the Article from Market Watch