Equifax Credit Reporting Class Action Settlement

If you financed a solar power installation through Power Home Solar (also known as Pink Energy) using a loan from Goodleap LLC, Solar Mosaic LLC, Sunlight Financial Holdings, Inc., Cross River Bank, or Dividend Solar Finance, LLC, and that loan was reported on your Equifax credit report since January 1, 2023, you may be eligible to receive relief from a class action settlement.

Equifax Information Services, LLC has agreed to a settlement in a class action lawsuit alleging it violated the Fair Credit Reporting Act (FCRA) by reporting certain solar panel financing accounts—referred to as “Pink Energy Loans”—on consumer credit reports.

Who is eligible for injunctive relief?

According to the official settlement website, you are a class member if you meet all of the following criteria:

• You reside in the United States and had a Pink Energy Loan reported on your Equifax credit file at any time from January 1, 2023 through February 19, 2025.
• The Pink Energy Loan was used to finance solar panels or related products from Pink energy.
• Your Pink Energy Loan was financed through one of these entities:
• Goodleap LLC
• Solar Mosaic LLC
• Sunlight Financial Holdings, Inc.
• Cross River Bank
• Dividend Solar Finance, LLC

• The Pink Energy Loan was reported by one of the specified lenders on Equifax credit files.

What does the settlement provide for class members?

This settlement provides injunctive relief. There is no monetary payment to class members.

The following benefits will be provided to all class members:

• Equifax will remove and suppress Pink Energy-related loan accounts from your credit report
• Any tradelines current reporting on a class member's Equifax credit file that pertain to Pink Energy Loan will be deleted.
• Equifax will suppress Pink Energy Loan tradelines so they will not appear in the future.
• Equifax will also implement internal procedures to suppress or delete Pink Energy Loan tradelines if a class member disputes the tradeline under the FCRA.

No claim form required

Class members are not required to file a claim to benefit from this settlement. The relief will be provided automatically through changes in Equifax’s credit reporting practices.

Is proof required?

Class members do not need to provide any supporting documentation to receive the injunctive relief. The settlement administrator and Equifax will identify eligible individuals using available records.

Equifax class action settlement fund

The settlement fund includes:

• Settlement administration costs: Up to $10,000
• Attorneys’ fees and costs: Up to $180,000
• Service awards to class representatives: Up to $5,000 each
• Payments to class members: Injunctive relief only

Important dates

• Email Notice Deadline: April 21, 2025
• Objection Deadline: May 20, 2025
• Final Fairness Hearing: June 17, 2025 at 10:00 a.m.

What happens next with the Equifax settlement?

The final hearing is scheduled to take place on June 17, 2025.. The changes to credit reporting will be implemented within 150 days after the settlement is granted final court approval.

Why is there a class action lawsuit settlement?

This class action was filed by consumers who alleged that Equifax violated the FCRA by including certain solar panel financing accounts (Pink Energy Loans) in consumer credit reports. Plaintiffs argued that these loans were part of an unlawful scheme and that Equifax should have known not to report them.

Equifax denies any wrongdoing but agreed to settle to avoid the burden of further litigation and a trial.

Sources

1. Official Settlement Website FAQ Page
2. Settlement Agreement