Archive for July 20, 2019

Equifax Facing $650 Million Fine Due To Epic Data Breach

Posted in Commentary with tags on July 20, 2019 by itnerd

Facebook isn’t the only company who is cutting a deal to make their legal issues go away. The New York Times is reporting that Equifax who had an epic data breach in 2017 that affected 150 million people is about to cut a deal to pay a $650 million fine to the feds and state investigators to make their legal issues go away:

Most of the roughly $650 million payment would go toward compensating consumers for costs associated with the data breach, according to those familiar with the settlement discussions.

Plans for the settlement were reported earlier by The Wall Street Journal.

To be frank, this is a slap on the wrist. Given the scale of this data breach and the effects of said breach on consumers to this day, Equifax needs to be punished to a greater degree. But that’s not going to happen apparently and that’s sad. Consumers deserve better. Much better.