Equifax data breach settlement


In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories. The settlement includes up to $425 million to help people affected by the data breach.

The settlement offers different options for those affected. Affected victims can apply for free credit monitoring a theft protections or cash payment for expenses as the result of the data breach.

The monitoring offers is up to at least four years from the three major bureaus, plus $1,000,000 theft insurance. An additional six years is available from Equifax.

Cash payments of up to $20,000 per person. The compensation can be for any costs associated with the data breach such as paid credit monitoring, credit freezes, or any losses from charges due to identity theft. In addition, victims and apply for compensation for time spent dealing with the breach. People have to substantiate their claims and can receive compensation at a rate of $25 per hour.

The FTC's site has more details and how to check to see if you're eligible.