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Equifax’s Tab for Its Big 2017 Data Breach Will Total at Least $671 Million

Digital Transactions

Equifax Inc., which in 2017 sustained a data breach that potentially exposed sensitive information related to 148 million files, announced what that massive intrusion will cost the company. The Atlanta-based credit-reporting agency said it will pay $671 million as part of an agreement to settle multidistrict class-action litigation and probes by the Federal Trade Commission, the Consumer Financial Protection Bureau, the New York Department of Financial Services, and attorneys general for 48 states, the District of Columbia, and Puerto Rico.

The $671 million payment includes a fund of $380.5 million for affected consumers, $180.5 million for the state attorneys general, and fines totaling $100 million to the CFPB and $10 million to the NYDFS, according to a company 8-K filing.