WASHINGTON - Equifax will pay up to $700 million to settle with the Federal Trade Commission and others over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people.
The proposed settlement with the Consumer Financial Protection Bureau, if approved by the federal district court Northern District of Georgia, will provide up to $425 million in monetary relief to consumers, a $100 million civil money penalty, and other relief. The bureau coordinated its investigation with the Federal Trade Commission and attorneys general from across the U.S.
.@Equifax to pay $575M, potentially up to $700M as part of settlement w/ @FTC, @CFPB, and states related to 2017 data breach. Settlement includes fund to help consumers recover from data breach. Read more: https://t.co/9gyWfz4sV6 #EquifaxDataBreach pic.twitter.com/AXxhKtIAad— FTC (@FTC) July 22, 2019
The announcement Monday confirms a report by The Wall Street Journal that the credit reporting agency had reached a deal with the U.S.
This is a developing story. Stay with Boston 25 News for more details as they become available.
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