The Federal Trade Commission on Wednesday told consumers affected by the Equifax data breach that they are unlikely to get the full $125 cash payment that many sought. Equifax last week reached a $700 million settlement over the massive 2017 data breach that exposed the personal information of 147 million
The Federal Trade Commission on Wednesday told consumers affected by the Equifax data breach that they are unlikely to get the full $125 cash payment that many sought.
But the FTC said on an update to its website Wednesday that"public response to the settlement has been overwhelming" and millions of people visited the claims site in the first week alone. Because those payments come from a fixed pot of $31 million, if more people apply than there are full funds for, then the amount each person gets will drop as the pool of money is distributed proportionally.
It's not surprising given the number of people affected by the breach, which equates to almost half the U.S. adult population.
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Equifax might run out of settlement cash, FTC warnsThe regulator said that consumers rushing to get a $125 check from Equifax as restitution for its 2017 cybersecurity breach should consider the credit monitoring option.
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FTC Says ‘Overwhelming’ Number of Equifax Claims Means Consumers Likely Won’t Get $125The response to a settlement has been so great that claimants may not receive the cash amount promised, the FTC warned.
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Sorry, you’re not getting $125 from the Equifax settlement, FTC saysThe Federal Trade Commission announced Wednesday that, due to an overwhelming response, cash payments aren’t going to anywhere near $125 each, and urged...
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You'll get 'nowhere near' the full $125 from Equifax, the FTC saysSo many people are seeking cash payments from Equifax following its disastrous 2017 data breach, there may not be enough claims money for everyone to receive a $125 check, the Federal Trade Commission warned on Wednesday.
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Equifax Can't Afford Promised Customer Payout, FTC ConfirmsMillions of Equifax customers have applied for compensation following the 2017 breach affecting the data of 147 million people. Now the FTC has confirmed there’s not enough money to go around. Here’s what to do if you have already applied, or if you were going to file a claim.
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