We know we told you
yesterday about the Equifax settlement and how you could make a
claim in connection with the breach. Well, consumers whose personal
information was compromised in Equifax's massive 2017 data breach are in for another surprise: they may
not receive the entire $125 payout option initially offered
following Equifax's settlement agreement with the FTC.
The Pool Was Too Small
The settlement agreement included the establishment of a $300
million fund, with a potential additional $125 million, to provide
affected consumers with credit monitoring services, and to
compensate consumers who bought credit or identify monitoring
services from Equifax and paid other out-of-pocket expenses
resulting from the 2017 breach. The FTC did not say, however, that
only a relatively paltry $31 million of the potential $425 million
was set aside for consumers who elect to receive the $125 cash
payout option (instead of credit monitoring services), according to
a blog
