State & Local Government Policy, Business and Technology

Equifax to Pay at Least $650 Million in Largest Data-Breach Settlement Ever

The New York Times: The credit bureau Equifax will pay at least $650 million and potentially significantly more to end an array of state, federal and consumer claims over a 2017 data breach that exposed the sensitive information of more than 147 million people. The breach was one of the most potentially damaging in an ever-growing list of digital thefts.

The settlement, which was announced on Monday and still needs court approval, would be the largest ever paid by a company over a data breach. The deal requires Equifax to put a minimum of $380.5 million into a restitution fund for American consumers who file claims showing that they were financially harmed.

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