Equifax, the credit reporting agency, has initiated a class action settlement as a result of the massive data breach that occurred in 2017, impacting over 147 million Americans. The settlement, which amounts to $677 million, includes provisions for cash payments, identity theft protection, and credit monitoring services. Individuals affected by the breach may receive an email notification, which will guide them on how to file a claim. According to the Federal Trade Commission (FTC), those eligible for compensation include anyone who had their personal information exposed during the breach. Claims can be submitted until January 22, 2024. Victims may receive up to $25,000 for specific losses incurred due to the breach, while general claims for free credit monitoring are also available. The setback prompted by the breach has been financially significant for Equifax, which had to invest in security upgrades and face legal repercussions following the incident. FTC representative said, “This settlement is one more step in the ongoing effort to ensure that Equifax, and other companies that collect and share sensitive data, take their responsibilities seriously.” For more information, individuals can visit the official settlement website and follow the instructions provided for filing a claim.
Equifax Class Action Settlement: Claim Your Part in the $677 Million Payout
