Equifax to pay up to $650,000,000 in largest-ever data breach settlement. 'This company’s ineptitude, negligence, and lax security standards endangered the identities of half the U.S. population,' NY attorney general says.
Credit-reporting company Equifax will pay up to a record $650 million to settle federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday.
"This company’s ineptitude, negligence, and lax security standards endangered the identities of half the U.S. population," New York Attorney General Letitia James said in a statement. The scandal upended the company, which saw the exit of its chief executive, as its security practices and slow speed in disclosing the breach were challenged. Washington policymakers questioned how private companies could amass so much personal data, setting off efforts to bolster consumers' ability to protect and control their information.
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