Equifax Sent Lenders Incorrect Credit Scores on Millions of Consumers

Equifax provided incorrect credit scores to millions of US consumers seeking loans over a three-week period earlier this year, according to banking executives and others familiar with the errors. this.

Equifax sent false scores on people applying for auto loans, mortgages, and credit cards to banks and non-banking lenders large and small — including JPMorgan Chase & Co, Wells Fargo & Co. and Ally Financial Inc., the people said. Scores sometimes differ by 20 points or more in either direction, these people say, enough to change the interest rate consumers are offered or result in their application being rejected outright. .

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