Equifax to pay $700M to settle data breach

Equifax will pay up to $700 million to settle with the U.S. and states over one of the largest data breaches to threaten private information, including Social Security numbers, according to an Associated Press report.

The settlement with the U.S. Consumer Financial Protection Bureau and the Federal Trade Commission, as well as 48 states and the District of Columbia and Puerto Rico, would provide up to $425 million in monetary relief to consumers, a $100 million civil money penalty, and other relief.

The 2017 data breach, which exposed private information of nearly 150 million people, was not detected for more than six weeks. In addition to Social Security numbers, the compromised data included birth dates, addresses, driver license numbers, credit card numbers and, in some cases, data from passports.