Canadians may benefit from proposed Equifax class-action lawsuit

Canadians who have been utilizing Equifax services to keep track of their credit scores may find themselves involved in a potential class-action lawsuit against the corporation. The plaintiff, Solomon Abudarham, took the initiative to file an application with the Quebec Superior Court to initiate legal proceedings against the credit bureau company at the beginning of the year.

The crux of the class action involves Abudarham’s assertion that his credit file, under the jurisdiction and supervision of Equifax, was repeatedly accessed by a third-party credit monitoring platform known as Borrowell over an extended period. This access transpired without his knowledge or authorization, leading to the unauthorized disclosure of his personal information to an external entity.

Borrowell serves as a financial services platform that allows users to access their credit scores through Equifax systems. Abudarham contends that he never established an account with Borrowell nor granted the platform permission to peruse his credit file. The plaintiff discovered that an unauthorized third party managed to illicitly create an account using his name and subsequently obtain unfettered access to his entire credit file and personal data.

Equifax responded to these accusations by stating that they will defend themselves vigorously against these claims using legal channels. They emphasized the vital role they play in consumers’ financial lives and assured that they take this responsibility seriously.

Law firm Twin Lisbet, representing Abudarham, disclosed that the class action is inclusive of all residents in Canada whose Equifax credit files were accessed, communicated, or disclosed without their explicit consent through third-party partner platforms employing Equifax’s computer login and authentication mechanisms post-May 20, 2024. These partner platforms encompass Borrowell, KOHO, Credit Karma, and Mogo and rely on similar matching, validation, and transmission mechanisms exclusively controlled by Equifax.

The primary aim of the class action is to seek financial compensation, moral and punitive damages, as well as court orders mandating Equifax to fortify its identification, matching, and authentication methods. Furthermore, the lawsuit demands the implementation of protective measures and alerts to thwart any unauthorized access to credit files by external parties.

However, it is imperative to note that the class-action lawsuit necessitates authorization by a tribunal before advancing any further, as the claims are yet to be substantiated in a court of law. Interested Canadians are encouraged to stay abreast of updates regarding this legal matter by enrolling on the law firm’s website.