Equifax exposed 150 million Americans' personal data. Now it will pay up to $700 million

New York (CNN Business)Credit reporting agency Equifax has reached a deal to pay up to $700 million to state and federal regulators to settle probes stemming from a data breach that exposed the personal information of nearly 150 million people. It will be the largest settlement ever paid for a data breach.

The Federal Trade Commission announced Monday that Equifax will pay at least $300 million and as much as $425 million to compensate affected people with credit monitoring services. That money will go into a fund that will also...