6/11/2023 0 Comments Ifax data breach settlement![]() consumers including social security numbers, birth dates and addresses- was exposed to hackers. He found that, since 15 million people filed claims (including 3.3 million claims for credit monitoring) but "only 2,770" people asked to be excluded from the settlement and 388 directly objected, "in the wake of incomplete or misleading media coverage" or as "serial objectors," the settlement could be considered reasonable and adequate. The settlement is the result of a 2017 breach in which the personal data of 147 million U.S. ![]() In July 2019, Equifax agreed to pay 175 million to 48 US states, the District of Columbia and Puerto Rico, as well as 100 million to the Consumer Financial Protection Bureau. Equifax had already been fined £500,000 625,000 in the UK for the 2017 breach, which was the maximum fine allowed under the pre-GDPR Data Protection Act 1998. According to the FTC’s Equifax Data Breach Settlement page, a specific breakdown of the settlement benefits includes the following: Free credit monitoring and identity theft protection. Those affected by the Equifax hack are eligible for a 125 payout, possibly more. A judge in March dismissed all the initial objections ( PDF to the settlement from a would-be class-action suit. After the massive breach was made public in September 2017, lawsuits and enforcement action followed. Heres how to file a settlement claim and get that data breach cash. That could be due to class-action suits gumming up the works, The Register theorizes. But there's been no contact from the settlement administrators since. Everyone else had until January 22 of this year to file for the credit monitoring. Individuals who did ask for the cash had an October 15 deadline to certify they already had credit-monitoring services in place. The settlement benefits individuals who were Indiana residents between March 2017 and July 2017 and whose information was affected by the Equifax data breach. After "unexpected" media attention drew an "overwhelming" number of claimants, the FTC dropped the option for choosing cash instead of credit monitoring altogether. If the settlement is approved by California courts, Yahoo could divvy up more than 117.5 million among users whose names, email addresses and passwords were stolen. Equifax has agreed to pay 19.5 million to resolve claims from the Indiana attorney general surrounding a 2017 data breach. The Indiana Office of the Indiana Attorney General filed a lawsuit on behalf of Hoosiers in 2019. The settlement includes up to 425 million to help people affected by the data breach. ![]() That bucket, however, was capped at $31 million in claims-enough to pay out a little under a quarter-million people, or 0.2 percent of those affected. Equifax agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. The original promise was that any affected person could receive either free credit monitoring or $125 in lieu of that if they had another active credit-monitoring solution. Granted, most individuals will see very little money from the settlement, if any.
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