The reports of an impending Equifax settlement were true. The company has agreed to settle with the Federal Trade Commission, the Consumer Financial Protection Bureau, attorneys general and New York’s Department of Financial Services over its massive 2017 data breach. It will pay between $575 million to $700 million to victims, states and regulators, including a restitution fund that will pay up to $425 million to provide credit monitoring for up to 10 years. About $300 million is guaranteed for the monitoring payout, with $125 million more waiting if that initial amount runs low.

Equifax already has a free lifetime credit lock service and said it had been providing free monitoring since September 2017.

Källa: Equifax settlement for data breach will only cost it $4 per person

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