ST. LOUIS – Equifax issued the wrong credit scores on millions of potential borrowers in the U.S.
The credit reporting agency said about 12% of credit scores released from mid-March into early April may have been wrong.
It sent lenders inaccurate scores on people applying for loans and credit cards. In some cases, the error was 20 points off.
This affected interest rates for potential borrowers or caused applications to be denied. Equifax blamed a coding issue for the problem.