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SAN FRANCISCO (AP) – According to the Wall Street Journal, Equifax will disburse approximately $ 700 million to settle with the Federal Trade Commission on a data breach dating back to 2017 that exposed social security numbers and other private information from nearly 150 million people .
The Journal, citing unnamed sources familiar with the matter, said the settlement could be announced as early as Monday. Equifax declined to comment.
According to the report, this agreement would resolve investigations by the FTC, the Bureau of Consumer Financial Protection and most state attorneys general. It would also solve a clbad action lawsuit against consumers nationwide.
Spokespersons for the FTC and the CFPB did not immediately return messages asking for comments on Friday night.
The loophole was one of the biggest attacks on people's private information. Equifax, based in Atlanta, has not noticed the attack for more than six weeks. Compromised data included social security numbers, dates of birth, addresses, driver's license numbers and credit card numbers.
The company said earlier this year that it had set aside about $ 700 million to cover the expected settlements and fines.
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