Nationwide settlement reached with Equifax for 2017 data breach

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Equifax will pay $175 million to the states, $1,422,915.91 of which will go to Utah

SALT LAKE CITY, Utah (ABC4 News) – Utah Attorney General, Sean Reyes, announced early Monday morning a settlement with Equifax.

Back in 2017, there was an Equifax data breach that affected more than 147 million Americans, 1.2 million of which are Utahns.

In a statement, Attorney General Reyes says “I’m pleased Equifax will take serious steps to protect and reimburse consumers, even if it comes only after one of the worst lapses of consumer data protection in our history.”

Attorney General Reyes says he urges consumers affected by the breach to take advantage of Equifax’s agreement to pay for credit monitoring and identity theft protection, among other things.

Attorney General Reyes’ office release the terms of the multi-state settlement which are listed here.

  • Equifax will offer affected consumers free credit monitoring services for 10 years.
  • Equifax will provide free Identity Theft Restoration services to all affected consumers.
  • Equifax will strengthen its data security practices to protect against another breach.
  • Equifax will take several steps to assist consumers regarding their credit report and with disputing inaccurate entries on their credit report.
  • Equifax will pay $300 million into a settlement fund for the benefit of affected consumers, with the possibility of paying up to an additional $125 million into the settlement fund, for a total of $425 million.
  • Equifax will pay $175 million to the states, $1,422,915.91 of which will go to Utah.

As for details on the Consumer Settlement Fund, impacted customers are eligible to request a couple different type of reimbursements, which are listed below.

  • Reimbursement for time spent trying to avoid or recover from identity theft (up to 20 total hours at $25 per hour).
  • Reimbursement for money spent trying to avoid or recover from identity theft (such as costs for freezing your credit report, professional fees paid to address identity theft, postage, etc.).
  • Up to $125 to reimburse for credit monitoring services purchased if you choose not to accept the offered 10 free years of credit monitoring service offered as a part of the settlement.

The Utah Attorney General’s Office says the settlement is being handled by a settlement administrator, who has set up a website and a toll-free number (1-833-759-2982). Those who are eligible to submit claims can do so at the settlement website.

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