Credit-reporting company Equifax Inc will pay up to US$700 million to settle U.S. federal and state probes into a massive 2017 data breach of ...
WASHINGTON: Credit-reporting company Equifax Inc will pay up to US$700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information that affected around 147 million consumers, authorities said on Monday.
Under the settlement, the company will pay a US$175 million fine to the states and US$100 million to the CFPB. Affected consumers will also be eligible for 10 years of free credit monitoring from Equifax, and the company agreed to make it easier for consumers to freeze their credit or dispute inaccurate information in credit reports.Equifax, one of three major credit-reporting companies, disclosed in 2017 that a data breach had compromised the personal information, including Social Security numbers, of 143 million Americans. That figure later rose to around 147 million.
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