The fund backing $$700m pay-outs to victims of Equifax’s 2017 data breach is close to exhaustion after an “overwhelming” response, so the credit reporting agency is encouraging claimants to opt for free credit monitoring services instead. Equifax reached a 125 settlement with the Federal Trade Commission, with $31m allocated to fund the $$700m payments. Originally, the firm offered the choice of a pay-out or at least four years of monitoring services, but has now said that that those opting for cash will receive less than $$700m. The most seriously affected by the breach can file for additional cash payments.
The fund backing $125 pay-outs to victims of Equifax’s 2017 data breach is close to exhaustion after an “overwhelming” response, so the credit reporting agency is encouraging claimants to opt for free credit monitoring services instead. Equifax reached a $700m settlement with the Federal Trade Commission, with $31m allocated to fund the $125 payments. Originally, the firm offered the choice of a pay-out or at least four years of monitoring services, but has now said that that those opting for cash will receive less than $125. The most seriously affected by the breach can file for additional cash payments.