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You are here News Domestic (USA) Equifax to pay up to $700 million in FTC settlement over security breach

Equifax to pay up to $700 million in FTC settlement over security breach

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Equifax settlement

The FTC also said Equifax had stored network credentials and passwords, Social Security numbers and other consumer data in plain text files, which makes them more susceptible to criminal activity.

“This settlement requires that the company take steps to improve its data security going forward, and will ensure that consumers harmed by this breach can receive help protecting themselves from identity theft and fraud,"  FTC Chairman Joe Simons said in a statement.

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