ATLANTA, July 26, 2019 /PRNewswire/ -- As previously
announced, Equifax Inc. has reached a comprehensive resolution of
U.S. consumer-related litigation and state and federal regulatory
matters related to the company's 2017 data breach. If a U.S.
consumer's personal information was impacted in the Equifax data
breach announced on September 7,
2017, they are a class member and eligible for benefits from
the settlement after it becomes final.
Under the terms of the consumer class action settlement, Equifax
has agreed to do the following: (1) pay $380.5 million into a fund to pay benefits to
consumers, court-approved fees and costs of class counsel and
service awards to the named class representatives, and other
expenses; (2) implement and maintain certain data security
enhancements; (3) if necessary, pay up to $125 million more to reimburse consumers for
out-of-pocket losses resulting from the data breach; and (4)
provide certain other relief.
Under the proposed settlement, class members are eligible for
one or more of the following benefits: (1) free credit monitoring
or up to a $125 cash payment if they
already have credit monitoring services that will continue for at
least six (6) more months; (2) up to $20,000 in other cash payments for time and money
spent preventing or recovering from identity theft because of the
data breach; and (3) free identity restoration services provided by
Experian to help remedy the effects of identity theft and
fraud.
The free credit monitoring includes credit monitoring services
provided by Experian for at least four years with the following
features: three-bureau credit monitoring providing notices of
changes to the class member's credit report at all three national
credit bureaus, free copies of a class member's Experian credit
report, updated on a monthly basis, and up to one million dollars ($1,000,000) in identity theft insurance.
Class members can also get up to six more years of free one-bureau
credit monitoring through Equifax.
These benefits will not be available until the settlement
becomes final, but consumers can submit a claim now. For more
information about the settlement, to check eligibility for
benefits, and to submit a claim, consumers can visit the settlement
administrator's website: www.equifaxbreachsettlement.com, or call
the settlement administrator at 1-833-759-2982.
ABOUT EQUIFAX INC.
Equifax is a global data,
analytics, and technology company and believes knowledge drives
progress. The Company blends unique data, analytics, and technology
with a passion for serving customers globally, to create insights
that power decisions to move people forward. Headquartered in
Atlanta, Equifax operates or has
investments in 24 countries in North
America, Central and South
America, Europe and the
Asia Pacific region. It is a
member of Standard & Poor's (S&P) 500® Index, and its
common stock is traded on the New York Stock Exchange (NYSE) under
the symbol EFX. Equifax employs approximately 11,000 employees
worldwide. For more information, visit Equifax.com and follow
the company's news on Twitter and LinkedIn.
Media contact:
Wyatt Jefferies
404-885-8907
wyatt.jefferies@equifax.com
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SOURCE Equifax Inc.