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Equifax to Pay up to $700M in Data Breach Settlement

Equifax will pay up to $700 million to settle with the Federal Trade Commission and others over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people. Equifax will pay up to $700 million to settle with the Federal Trade Commission and others over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people. | 

Created: July 22, 2019 06:26 AM

WASHINGTON (AP) - Equifax will pay up to $700 million to settle with the Federal Trade Commission and others over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people.

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The proposed settlement with the Consumer Financial Protection Bureau, if approved by the federal district court Northern District of Georgia, will provide up to $425 million in monetary relief to consumers, a $100 million civil money penalty, and other relief. The bureau coordinated its investigation with the Federal Trade Commission and attorneys general from across the U.S.

The announcement Monday confirms a report by The Wall Street Journal that the credit reporting agency had reached a deal with the U.S.

Copyright 2019 The Associated Press. All rights reserved.

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