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Tonight up to 150 million Americans may finally get some relief from Equifax. This after one of the largest data breaches ever that compromised names, addresses, birth dates, social security numbers and driver's license information. They're gonna pay consumers for their loss and they're gonna pay to make sure something like this doesn't happen again. Equifax will pay at least 575 million dollars to consumers including 300 million for free credit monitoring services. Allyson Thompson received a letter from Equifax saying her data may have been compromised and says she still won't be able to trust the company.
You pay them to protect you. You pay them to get your credit report and then they make money by selling your information and I just think it's kind of disgusting. The CEO of Equifax trying to restore that trust today. Today's announcement really puts that consumer fund in place that will really give consumers some peace of mind that their identity is going to be watched with the credit monitoring that will be offered. The massive settlement will give those affected $25 for each hour spent insuring information was protected. reimbursement for certain credit monitoring and ten years of free credit monitoring going forward.
