Like the FTC on Facebook, follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). The Federal Trade Commission works to promote competition, and protect and educate consumers. Consumers can also contact the settlement administrator directly.Ĭonsumers can find out more about the settlement at ftc.gov/Equifax. For consumers who have already chosen the cash option, the settlement administrator will e-mail those consumers and provide them with the opportunity to either (1) submit additional information, or (2) switch to the free credit monitoring service. Because the amount of money set aside for the cash payment option is capped at $31 million, consumers who select that option may not receive the $125 they had expected.įor those who have not submitted a claim, the FTC is recommending that affected consumers consider choosing the free credit monitoring service, which is worth hundreds of dollars and comes with identity theft insurance and restoration services. The FTC blog post notes that the public response to the settlement has been overwhelming. The initial deadline to file a claim in the Equifax settlement was January 22, 2020. The settlement includes up to 425 million to help people affected by the data breach. Among the benefits available to consumers affected by the breach is free credit monitoring services or, alternatively, a cash payment if they already have credit monitoring. The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. The settlement with Equifax announced on July 22 included at least $300 million and potentially up to $425 million to help consumers recover from the breach. A new FTC blog post notes that because of high interest in the alternative cash payment under the settlement, consumers who choose this option might end up getting far less than $125. If your personal information was exposed in the 2017 Equifax data breach, you could get money from a 380.5 million Equifax class action lawsuit settlement. The Federal Trade Commission is urging consumers affected by Equifax’s 2017 data breach to consider signing up for the free credit monitoring offered as part of the settlement. About the FTC Show/hide About the FTC menu items.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.Equifax infamously suffered a data breach that exposed devastating levels of personal and financial information of about. Competition and Consumer Protection Guidance Documents Your Equifax settlement 125 isn’t coming, but banks get their 5.5M. ![]() The Equifax data breach settlement claims process has not begun yet. Enforcement Show/hide Enforcement menu items In September 2017, Equifax announced a massive breach had exposed the personal information of approximately 147 million people. How to File a Claim and Get Paid From the Equifax Settlement.
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