CoreLogic Credco Settles OFAC List Lawsuit for $58,500,000

If you were reported as a possible match to an entity on the Office of Foreign Asset Control’s (OFAC) List of Specially Designated Nationals by Corelogic Credco, you may be eligible to claim between $47 and $1,000 from a class action settlement.

Corelogic Credco has agreed to pay $58,500,000 to settle a class action lawsuit for alleged inaccurate reporting of individuals as possible matches to the OFAC List and failing to disclose this information upon request.

Who Can Claim an Award?

The settlement includes three groups or “Classes” of people:

• Inaccurate Reporting Class: Individuals reported by Credco as possible matches to the OFAC List between June 3, 2013, and August 28, 2023.
• Failure to Disclose Class: Individuals reported by Credco as possible matches to the OFAC List between June 3, 2013, and August 28, 2023, who requested their consumer file or report after the report was made.
• Failure to Identify Class: Individuals who requested their consumer file from Credco between June 3, 2015, and June 30, 2021, and received a consumer file disclosure.

If you received an email or mail notice of the settlement, that notice should state the Class (or Classes) that you are a Member of, according to Credco’s records. If you are unsure whether you are a Member of any of the Settlement Classes, you may contact the Settlement Administrator by emailing info@OFACListSettlement.com or calling 1-844-714-4146.

What Awards Can Class Members Claim?

Class members can claim the following awards:

• Inaccurate Reporting Class: An initial estimated payment of $47, potentially followed by a second payment of approximately $47, depending on the number of initial checks cashed.
• Failure to Disclose Class: $1,000.
• Failure to Identify Class: $500.

If you are a member of multiple classes, you will receive a payment for each class you are in.

Is Proof Required to Claim the Reward?

Proof is not applicable. If you received a notice in the mail, you do not need to provide proof. If you did not receive a notice, you must complete a Claim Form and may need to provide proof of class membership.

How to Claim Your Award

To claim your award, you can file a claim online or download a claim form and file by mail by sending your completed Claim Form to:

OFAC List Settlement Administrator

1650 Arch Street, Suite 2210

Philadelphia, PA 19103

Submitting a Claim

Follow these steps to submit a claim:

1. Visit the online claim form.
2. Fill out your personal information, including your name, address, email, and phone number.
3. Select your preferred payment method (PayPal, Venmo, Zelle, Virtual Prepaid Card, or Physical Check).
4. Submit the form online or mail it to the address provided above.

How do I Get Paid?

Class members can choose to receive their payment via PayPal, Venmo, Zelle, Virtual Prepaid Card, or Physical Check.

$58,500,000 Settlement Fund

The settlement amount of $58,500,000 will cover:

• Cash payments to Class Members
• Attorneys’ fees of $14,625,000
• Costs
• Settlement administration
• Service award for Mr. Fernandez, not to exceed $20,000

Important Dates

• Fairness Hearing: June 10, 2024
• Deadline to File a Claim: August 19, 2024

When is the CoreLogic Credco Settlement Payout?

Awards will be paid after the Court approves the settlement and any appeals are resolved.

Why is There a Class Action Settlement?

This settlement addresses claims that Corelogic Credco inaccurately reported individuals as possible matches to the OFAC List and failed to disclose this information upon request.

What Happens Next?

The Court will hold a Final Fairness Hearing on June 10, 2024, to determine whether to approve the settlement. If approved, payments will be distributed to eligible Class Members.