Equifax Settlement Agreement Will Compensate Consumers Affected by 2017 Breach

After almost two years since the huge breach of its customer database, Equifax has settled most of the legal action against the company.

Below are some highlights, and for more information if you believe you were affected, here is the link to the Equifax breach settlement website.

The total settlement, according to the Wall Street Journal, will be “up to $700 million with the Federal Trade Commission, the Consumer Financial Protection Bureau and most state attorneys general, in addition to a nationwide consumer class-action lawsuit.”

For those participating in the class action settlement, they will receive from Equifax (according to its website):

• Free credit monitoring for at least three years or a $125 cash payment, and
• Other cash payments up to $20,000 for a variety of problems the consumer may have encountered such as identity theft or fraud. In some cases, Equifax will compensate consumers for the time they spent dealing with the problems, and
• Up to seven years of free identity restoration services.

More details can be found at the Equifax breach settlement website.

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