The agreement assumes that only seven million consumers will take advantage of the credit monitoring protections, but Equifax could be on the hook for up to about $2 billion should all impacted consumers decide to enroll in credit monitoring. The kinds of supporting documentation that can be attached to an individual claim include account statements showing unauthorized charges, police reports, receipts, bills and letters refusing refunds for fraudulent charges. Consumers will be asked to enter personal information to receive reimbursement, or any of the other settlement benefits, and will have to select exactly which type of compensation they are seeking. That document can be printed out and mailed to the settlement administrator or filed online. On the landing page of the settlement website, those who wish to file a claim should click "File a Claim Today" in order to be directed to a digital copy of the claims form. Equifax is providing consumers with 10 years of free credit monitoring, doling out $125 apiece to individuals who decide not to enroll in this free service because they have already obtained their own credit monitoring. While individual consumers affected by the breach could be able to claim upwards of $20,000 from Equifax, there are varying levels of compensation that the company is more and less willing to hand out. Equifax agreed to add an additional $125 million to the compensation fund if the well runs dry. consumers can query a database and file claims: .Ī pot of $380.5 million will be set aside by the credit bureau to reimburse any of the 147 million Americans whose data was stolen in May 2017 by unknown hackers. To find out if you're a victim of the Equifax data breach, the company has set up a website where U.S. In 2018, news sources reported that the data breach was larger than Equifax had originally communicated to the public, and exposed information including tax identification numbers, email addresses and phone numbers.Close-up of the hand of a man holding a mobile phone open to the web site of credit bureau Equifax, with text on the website reading "Equifax Cybersecurity Incident", providing steps for consumers to take following a security breach at the company, San Ramon, California, September 28, 2017. history.Ĭustomers accused Equifax of not having sufficient security in place to protect customer data from the data breach.Īdditionally, the customers argued that Equifax did not respond appropriately during and after the breach, by not informing the public about the breach quickly enough, and not implementing sufficient security measures after the breach. Allegedly, it was the largest data breach involving personal and financial information in U.S. Numerous Equifax data breach class action lawsuits were filed in 2017 by customers who claimed that a massive data breach at the company exposed the personal identifying information of more than 145 million people. The Equifax class action settlement website notes that it will be updated throughout the legal process to provide information on who qualifies as a Class Member eligible for benefits from the settlement.
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