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Equifax to Pay Around $700 Million to Resolve Data-Breach Probes

Posted on July 19, 2019 by Dissent

AnnaMaria Andriotis reports:

Equifax is nearing a deal to settle a slew of state and federal investigations into a 2017 data breach that exposed nearly 150 million Americans’ Social Security numbers and other sensitive personal information.

Under the agreement, the credit-reporting firm would pay around $700 million to settle with the Federal Trade Commission, the Consumer Financial Protection Bureau and most state attorneys general, according to people familiar with the matter. The deal would also resolve a nationwide consumer class-action lawsuit, they said.

Read more on WSJ.

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  • Equifax Reaches $1.4 Billion Data Breach Settlement in Consumer Class Action; Also Agrees to Pay $575 Million as Part of Settlement with FTC, CFPB, and States Related to 2017 Data Breach
  • Equifax data breach aftermath: lawsuits and criticism mount, stock prices plummet (Updates)
  • Credit reporting firm Equifax says data breach could potentially affect 143 million US consumers
Category: Business SectorHackOf NoteU.S.

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2 thoughts on “Equifax to Pay Around $700 Million to Resolve Data-Breach Probes”

  1. Teresa Barker says:
    July 29, 2019 at 4:08 pm

    I recieved legal notice in the mail I have know idea why please explain

    1. Dissent says:
      July 29, 2019 at 7:10 pm

      The Montana AG has posted a helpful FAQ here: https://media.dojmt.gov/wp-content/uploads/equifax-settlement-frequently-asked-questions-1.pdf

      If you still don’t understand, go to the web site they provide or call the number they provide for consumers. Things will be clearer down the road, hopefully.

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