CoreLogic Credco Credit Report Settlement: $58M

There are three groups of eligible individuals:

• Inaccurate Reporting Class: Individuals whose credit reports incorrectly identified them as a potential match to a person on the OFAC list between June 3, 2013, and August 28, 2023.
  
  
• Failure to Disclose Class: Individuals who requested their consumer file from CoreLogic Credco after being identified as a potential OFAC match but were not informed of this designation.
  
  
• Failure to Identify Class: Individuals who requested their consumer file from CoreLogic Credco between June 3, 2015, and June 30, 2021, and were not provided with information about companies that had requested their credit report.

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A class action lawsuit was filed against CoreLogic Credco, a consumer reporting agency, alleging violations of the Fair Credit Reporting Act (FCRA). Plaintiffs claimed that CoreLogic Credco inaccurately reported consumers as potential matches to individuals on the Office of Foreign Assets Control (OFAC) list, hindering their ability to obtain credit and causing significant financial harm. Additionally, the lawsuit alleged that CoreLogic Credco failed to disclose information about consumers' credit reports and the companies that had requested them.

CoreLogic Credco denied any wrongdoing but agreed to a $58 million settlement to resolve the lawsuit and compensate affected consumers. The settlement includes monetary payments to class members and requires CoreLogic Credco to implement changes to its reporting practices.

Monetary payments are broken down as follows:

• Inaccurate Reporting Class: Eligible individuals will receive an initial payment estimated at approximately $47, with a potential second payment of a similar amount.
  
  
• Failure to Disclose Class: Eligible individuals will receive an automatic payment of $1,000.
  
  
• Failure to Identify Class: Eligible individuals will receive an automatic payment of $500.