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Equifax will pay up to $700M to settle with the U.S. and states over a 2017 data breach that exposed Social Security numbers and other private information.
The breach led to a record settlement with the FTC, a dramatic downgrade in Equifax’s own credit rating, and close to $3 billion in expenses for the company as it restructured both its C-suite ...
Equifax discovered the breach end of July, but did not disclose it to the public until September 2017. In a settlement with the United States Federal Trade Commission, Equifax offered affected users settlement funds and free credit monitoring.
Equifax software engineer Sudhakar Reddy was charged with insider trading for purchasing options prior to the disclosure of the 2017 data breach. [86] [87] In January 2020, Equifax agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories.
Tong was a part of a small group of state attorneys general who led the investigation against Equifax [11] relating to a massive data breach in which millions of Americans' personal and confidential information was compromised, including more than 1.5 million residents of Connecticut. Equifax eventually agreed to a $700 million settlement ...
The credit reporting agency reached a $700 million settlement with government officials last week, agreeing to pay as much as $425 million of that money to consumers affected by the data breach.
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