Saturday, July 20, 2019

Equifax To Pay $700 Million for 2017 Data Breach

So this money, at least most of it, is supposed to settle the class action lawsuit? And the number of people that were compromised in the breach stands at 143 million?  If my math is correct, everyone brace yourself a financial windfall of $5.

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.