(Bloomberg) — Equifax Inc. provided inaccurate credit scores on millions of US consumers looking for loans, the Wall Street Journal reported, citing bank executives and people familiar with the matter it didn’t identify.
The consumer credit-reporting agency sent the erroneous scores from mid-March through early April, before starting to disclose the errors to lenders in May, the WSJ reported. The scores covered consumers applying for auto loans, mortgages and credit cards to banks and non-bank lenders including JPMorgan Chase & Co., Wells Fargo & Co. and Ally Financial Inc., according to the report.
A representative for Equifax didn’t immediately respond to a request for comment. The company told the Wall Street Journal it had since fixed the error, which it described as a technology coding issue.
Shares of the company fell 2.1% to $206.31 at 4 p.m. in New York.
The issue follows a cyberattack at Equifax, which maintains credit reports on US consumers and sells them to lenders, that it disclosed in September 2017. Hackers accessed data including Social Security numbers, driver’s license numbers and addresses, it said at the time.
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