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Anyone with questions about the additional Equifax payments is encouraged to contact settlement administrator JND Legal Administration at info@equifaxbreachsettlement.com or by calling (833) 759-2982.
Under the settlement, Equifax agreed to pay $15 million into the CFPB's victim relief fund and fix its dispute resolution processes. (Reporting by Rami Ayyub; Editing by Paul Simao)
The money will reimburse individuals for everything from the time spent filing for credit freezes after the breach, to free monitoring services for the next 10 years.
The agencies were required to pay $23 million in fines and restitution. [67] Equifax agreed to a settlement of $575 million with the Federal Trade Commission, the CFPB, and states related to a data breach that occurred in 2017 where 147 million people were affected by their personal information being exposed. [68]
Before standardization of credit scoring, statements of character were integral to credit reports well into the 1960s. [3] With credit reports containing probing details about personality, habits, and health, in the hearings on the Fair Credit Reporting Act lawmakers were troubled that individuals were helpless to clear up errors.
The total value of the settlement will be about $7.25 billion. [9] [10] This amount could be decreased based on the number of plaintiffs who opt-out. [11] A part of the settlement that allows merchants to charge fees to customers paying via credit card in order to recoup swipe fees took effect on January 27, 2013.
In 2017, consumer credit rating giant Equifax suffered one of the country's largest data breaches, exposing the personal information of 147 million U.S. citizens, or roughly 40% of the population ...
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