Equifax Settlement Checks Smaller Than Advertised

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Due to overwhelming interest from claimants, the Equifax data breach class action settlement will reportedly be paying out significantly less than $125, according to the Federal Trade Commission. When the credit bureau announced their $380.5 million settlement to resolve data breach claims, the cash award from the settlement was estimated to be $125 per claimant. However, an unexpected number of consumers have already filed claims for cash payments with the settlement, which will reportedly cause individual payments to be reduced. Ring of Fire’s Farron Cousins discusses this with Scott Hardy from Top Class Actions.

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