Equifax this spring sent out incorrect credit scores for millions of customers applying for home and auto loans, the Wall Street Journal reported on Tuesday.
As one of three major credit-reporting companies in the U.S., Equifax provides financial information and scores for consumers, affecting whether people are approved for products including mortgages, credit cards, and car loans, and what interest rate they pay. Most credit ratings range from 300 to 850, with higher-scoring consumers getting more favorable terms.
What is the cost of sending out the wrong information?
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