Equifax data breach advertisement mock-up (Photo: Court documents)
Equifax CEO Mark Begor says he expects less than 1% of 147 million consumers whose personal information was compromised in a massive data breach will take advantage of the company’s settlement of a consumer class action.
But lawyers who settled multidistrict litigation against Equifax on behalf the affected consumers are hoping for far more.
To that end, they have created a settlement notice plan, approved by Equifax with input from federal and state regulators, that intends to take advantage of modern commercial and political advertising […] Read more
Democratic lawmakers are banging the drum for harsher penalties against companies and executives that don’t protect people’s data after credit ratings agency Equifax was ordered to pay up to $700 million in a groundbreaking settlement yesterday for the 2017 data breach.
The calls reflect a prevailing belief in the Democratic Party that companies have played fast and loose for too long with the privacy and security of people’s data, analysts told me. But it will still be an extemely heavy lift to turn their ire into actual laws, they warned.
“The mood […] Read more
By: Bobby Burack |
26 minutes ago
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Equifax Inc. agreed to pay up to $700 million to resolve U.S. federal and state investigations into the 2017 hack that compromised some of the most sensitive information of more than 140 million people.
“Companies that profit from personal information have an extra responsibility to protect and secure that data,” FTC Chairman Joe Simons said in a statement. “Equifax failed to take basic steps that may have prevented the breach.”
Equifax will pay as much as $425 million to compensate consumers and provide credit monitoring to those whose information was exposed under a settlement announced Monday by the Federal Trade Commission. […] Read more
COLUMBUS, Ohio (WDTN) – Ohio is getting at least seven
million dollars in the Equifax settlement — but proving you deserve some of
the 300 million dollars set aside for consumers could be tough.
Five of the seven million dollars Ohio gets will be deposited into the state’s general revenue fund, the other two will go toward paying for the consumer protection group that brought the lawsuit forward.
Meanwhile, 300 million dollars has been set aside for people
who’ve had their information stolen.
“This is the biggest consumer information breach in
history and by far the largest settlement over it,” said Ohio Attorney
General Dave Yost.
Consumers can get […] Read more
COLUMBUS, Ohio (WDTN) – A multistate coalition of attorneys
general, including Ohio, has reached a settlement with Equifax after its
massive 2017 data breach. John North of
the Dayton Better Business Bureau joined 2 NEWS Monday to discuss what this
news means for the state of Ohio.
An investigation concluded that Equifax’s failure to maintain
reasonable security systems allowed hackers to expose the data of over 147
million consumers as the largest breach of consumer data in U.S. history.
Despite knowing about a critical vulnerability in the
software, Equifax failed to patch its system, allowing hackers a way in to
access personal information.
Additionally, Equifax failed to replace software that […] Read more
[…] Read more
Michigan Attorney General Dana Nessel has announced her office has joined 49 other Attorneys General in a multi-state settlement with Equifax as a result its massive 2017 data breach. The settlement includes up to $425 million in consumer restitution and $175 million to the states. Michigan’s share is $4.6 million. The AG’s office says under the settlement, Equifax agrees to provide a single Consumer Restitution Fund of up to $425 million, with $300 million dedicated to consumer redress. If the $300 million is exhausted, the fund can increase by up to an additional $125 million. The company will also offer […] Read more
Credit reporting agency Equifax is paying a massive fine for the largest data breach in United States history.
The 2017 Equifax hack exposed the personal information of nearly 150 million people.
Equifax is expected to pay as much as $700 million for the breach. If you think you were affected cyber security experts say you can file a claim.
[…] Read more