Experian to pay out more than $22M over errors

It’s settled. Experian agrees to pay $22.45 million for mistakenly claiming some consumers were high risk. 

Here's a summary of what happened: Consumers claimed they couldn’t get the financial credit they deserved because the credit-reporting agency disseminated inaccurate information that hurt them. 

Experian’s software wrongly flagged some people as one of two things: either high risk or non-residential. That last one made some lenders think that possibly these consumers were a risk for credit fraud. 

So there are two things at work here. If you contacted Experian between July 1, 2018 - July 31, 2021 to dispute this non-residential fraud risk, you might be owed money. And that is believed to be somewhere between $300 and $900.  

Experian Offices in Nottingham (Photo by Tony Marshall/PA Images via Getty Images)

The second issue is about a policy change. The company has admitted no wrongdoing, but it has agreed to change the way is resolved some of these disputes. 

If you believe you are owed money here, your deadline for submitting a form is Jan. 30, 2023.

You can submit claims here: Experian Settlement