Big-three credit bureau Equifax has reportedly agreed to pay at least $650 million to settle lawsuits stemming from a 2017 breach that let intruders steal personal and financial data on roughly 148 million Americans.
You won’t see a penny or any other benefit unless you do something about it, and how much you end up costing the company (within certain limits) is up to you.
The Times reports that the proposed settlement assumes that only around seven million people will sign up for their credit monitoring offers. “If more do, Equifax’s costs for providing it could rise meaningfully,” the story observes.
Not to sound mean about it, but Equifax seriously dropped the ball regarding security here, and should be held fully accountable. So we strongly encourage you and everyone you know to 1) find out if you were affected and 2) if so, file a claim. Here’s where to go:
Do it now. It only takes a minute or three.