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Equifax To Pay $725K Over Inaccurate Credit Scores That Raised Costs For NY Consumers Equifax To Pay $725K Over Inaccurate Credit Scores That Raised Costs For NY Consumers
Equifax To Pay $725K Over Inaccurate Credit Scores That Raised Costs For NY Consumers Bad math at Equifax led to bad rates for New Yorkers – now it’s paying up. The credit reporting agency agreed to a $725,000 settlement reached with the Empire State Tuesday, Jan. 15, after a coding error wrongly lowered credit scores for over 77,000 New Yorkers. An investigation found that the three-week error in March 2022 caused inaccurate credit scores to be reported to lenders and insurers. The flub resulted in higher rates on loans, insurance policies, and other financial products for many consumers, James’ office said. Equifax, one of the nation’s largest credit reporting agencies, c…

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by Michael Mashburn
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COVID-19 Fraud: Capital Region Man Gets Prison Time For $125K Loan Scheme COVID-19 Fraud: Capital Region Man Gets Prison Time For $125K Loan Scheme
Covid-19 Fraud: Capital Region Man Gets Prison Time For $125K Loan Scheme After bilking the federal government out of more than $100,000 through a fraudulently obtained loan, a 36-year-old man from the region is heading to prison. Christopher Mozone, of Albany, was sentenced to 3 ½ years behind bars in Albany federal court on Thursday, Aug. 31. It followed his guilty plea to wire fraud stemming from a government loan he received that was meant to help businesses struggling due to the effects of the COVID-19 pandemic. According to prosecutors, Mozone admitted to obtaining a $124,800 Economic Injury Disaster Loan from the US Small Business Administration (SBA). I…

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by Michael Mashburn