Equifax would have settled nearly $ 700 million in case of data breach

Do not forget that at the time Equifax had suffered a data breach and had leaked an incredible amount of information – addresses, Social Security numbers and even a driver's license – on more than 143 million people in the United States alone? This was revealed nearly two years ago, and the media reports tonight that the company is getting closer to an agreement with federal and national agencies, including the FTC, the Bureau of Consumer Financial Protection and the Attorneys General of the States. the New York Times and the Wall Street newspaper said it could shell out between $ 650 and $ 700 million, which is close to the $ 690 million that Equifax told investors earmarked for a penalty.

According to reports, the details will be announced Monday and their amount may vary depending on the number of people who file claims. It is unclear to what extent the affected people could hope to obtain compensation, but the settlement allegedly includes the conditions for creating a fund for this purpose.

The Equifax breach occurred after hackers exploited a known loophole in uncorrected software that his former CEO had pinned to an employee instead of faulty policies. The data broker has already accepted new rules on security policies in some previous regulations, and it remains to be seen whether or how this will add additional oversight.