Penalty Amount
$725,000
New York Attorney General Letitia James announced a settlement with Equifax Information Services, LLC for inaccurately reporting credit scores to lenders due to a coding error, which lowered consumers' scores and inflated costs for loans and insurance between March and April 2022. Equifax will pay $725,000 and implement safeguards to prevent future errors, with restitution for affected consumers.
Equifax must pay $725,000 in penalties, implement enhanced safeguards to prevent future errors, regularly monitor customer error reports, and provide restitution to affected consumers through the Office of the Attorney General.
In-house legal teams should review vendor and customer agreements where Equifax or similar consumer reporting agencies provide credit data to lenders, insurers, or other financial institutions. Focus on clauses governing data accuracy warranties, error correction mechanisms, notification obligations for reporting inaccuracies, indemnification for damages caused by erroneous data, audit rights to verify data quality, and consumer restitution or remediation procedures. Changes may be needed to mandate stricter data validation protocols, define clear timelines for error reporting and correction, require transparency in lender/insurer remediation efforts, and include holdback or escrow provisions to cover future consumer harm from reporting errors.
Entity
Equifax Information Services, LLC
Also known as: Equifax
Industry
Financial ServicesOfficial Press Release
https://ag.ny.gov/press-release/2025/attorney-general-james-secures-725000-equifax-harming-consumers-through
equifax information services assurance of discontinuance 202
https://ag.ny.gov/sites/default/files/settlements-agreements/equifax_information_services_assurance_of_discontinuance_2025.pdf
New York Attorney General Enforcement Page
https://ag.ny.gov/press-releases
$240K
The New York Attorney General investigated a group of debt buyers for filing foreclosure actions seeking payment of long-expired mortgage debts. The companies agreed to pay $240,000 in penalties and more than $242,000 in consumer restitution, stop seeking payment of time-barred debts, and amend claims in pending foreclosure cases.
$240K
New York Attorney General Letitia James reached an agreement with debt buyers that allegedly filed foreclosure lawsuits seeking payment on expired mortgage debt. The companies must pay $240,000 in penalties and more than $242,000 in restitution, and stop seeking expired payments in ongoing and future cases.
$6.0M
The New York Attorney General secured disgorgement settlements totaling $5,975,861 from four promoters of NovaTech and AWS Mining over fraudulent investment claims and an illegal pyramid scheme. The promoters were permanently banned from the securities, commodities, and cryptocurrency industries; the Attorney General separately asked the court to order NovaTech’s founders to pay $1.3 billion, which was not yet an order.
$98K
New York Attorney General Letitia James secured a settlement after T-Mobile raised prices on plans it had advertised with a promise that prices would never change. T-Mobile must offer affected customers refunds and other benefits, honor price guarantees through at least 2029 for customers who remain, clearly disclose limitations on future guarantees, and pay New York $98,000.
$2.6M
New York and Connecticut reached a settlement with Boston Children’s Health Physicians and its IT security provider, XTIUM, after a 2024 breach exposed private information of approximately 825,000 New York residents and 62,871 Connecticut residents. The companies will pay $2.64 million and implement enhanced cybersecurity measures; additional penalties are conditional on violating the settlement.
New York Attorney General Letitia James joined 16 other attorneys general in urging Congress to pass proposed legislation addressing the federal government’s release of Jeffrey Epstein-related records. The press release says DOJ has not fully disclosed the records required by the original law and that personal information of at least 43 victims was exposed in released files; this is a legislative advocacy announcement, not an enforcement action imposing a penalty or remedy.