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Fraud Shield Settlement: A Resolution to Experian Lawsuit

In recent years, cybercrime has become a growing concern, with individuals and businesses falling victim to various forms of online fraud. Experian Information Solutions, Inc. ("Experian"), a prominent credit reporting agency, found itself at the center of a class-action lawsuit regarding its Fraud Shield Indicators. However, it is important to note that the Fraud Shield Settlement is not a scam but a proposed resolution to the legal proceedings against Experian.

The lawsuit alleges that Experian violated the Fair Credit Reporting Act by inaccurately reporting certain Fraud Shield Indicators, specifically related to residential addresses. It is claimed that Experian designated some addresses as high-risk or non-residential incorrectly. Additionally, the lawsuit states that Experian lacked proper procedures to ensure accurate reporting of Fraud Shield Indicators and failed to cease reporting adverse information that impacts creditworthiness after seven years. Experian has denied any wrongdoing, and the court has yet to reach a final verdict on the matter.

On April 27, 2022, the court approved an initial settlement, which resulted in Experian implementing changes to its business practices. However, this settlement did not resolve all the claims brought against the company. After further negotiations, the parties involved agreed upon additional changes to Experian's practices and a resolution for monetary damages claims.

If you believe you may be eligible for compensation from the settlement, you fall under the Rule 23(b)(3) - Money Settlement Class Member category. To qualify, you must have been likely affected by Experian's reporting of Fraud Shield Indicators between July 1, 2018, and July 31, 2021. Alternatively, if you contacted Experian during the same period to inquire about or dispute a non-residential or high-risk address indicator, you may also be eligible.

The settlement provides a total of $22,450,000, which will be allocated to different purposes. The money will be used to compensate eligible class members, cover court-approved attorneys' fees and expenses, provide a service payment to the Class Representative, and cover administrative and notice costs. It is important to note that individuals who were not affected by Experian's Fraud Shield reporting or did not dispute a non-residential or high-risk address indicator are not eligible for monetary compensation.

To submit a claim or obtain more information about the settlement, it is crucial to visit the official website at This is the only authorized source for submitting claims and accessing accurate information regarding the settlement.

As with any legal proceeding, it is crucial to exercise caution and protect your personal information. Be wary of potential scams or fraudulent websites claiming to be associated with the settlement. Stick to the official website and refrain from sharing sensitive or identifiable information in comment sections or forums.

In conclusion, the Fraud Shield Settlement is not a scam but a legitimate resolution to a class-action lawsuit against Experian Information Solutions. If you believe you meet the criteria for eligibility, visit the official website to submit a claim and obtain accurate information. By remaining vigilant and cautious, we can protect ourselves from potential scams while seeking justice and resolution in cases of cyber fraud.