More than 160 million consumers will be treated to a free look at their credit score, thanks to a class-action settlement against TransUnion Corp., the LA Times reports. Everyone who had any kind of loan account between 1987 and yesterday is entitled to 6 months of free credit reporting; at its normal rate of $59.75, the deal could cost TransUnion more than $10 billion—the largest settlement in US history.
Federal laws already entitle consumers to an annual free credit report from the big three credit providers, but those reports don’t include the consumer’s numerical score, a three-digit number used to determine interest rates and credit approval. “This is astonishing,” said one consumer advocate. “It’s everything we tell consumers that they need to find out.” To get scores, go to www.listclassaction.com after June 16. (Read more lawsuit stories.)