Equifax Agrees To Pay Up To $700 Million In Settlement For Data Breach
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Equifax to Pay up to $700M in Data Breach Settlement
Equifax will pay up to $700 million to settle with the U.S. and states over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people.
The settlement with the U.S. Consumer Financial Protection Bureau and the Federal Trade Commission, as well as 48 states and the District of Columbia and Puerto Rico, would provide up to $425 million in monetary relief to consumers, a $100 million civil money penalty, and other relief.
The breach was one of the largest ever to threaten...
From the Left
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...
From the Left
How Equifax's $700 million settlement could end up compensating you for ID theft
Americans will now get compensation for losses tied to one of the biggest data security failures ever.
Credit-reporting company Equifax has agreed to pick up the tab in a proposed deal with the Federal Trade Commission, Consumer Financial Protection Bureau and 50 states and territories to settle allegations that it did not implement sufficient security measures to protect its network. The settlement still must be approved by the U.S. District Court for the Northern District of Georgia.
The deal calls for Equifax to pay at least $575 million, including $300...
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