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States Reach $600 Million Settlement With Equifax

 

Kansas and 49 other states and jurisdictions have reached a settlement with Equifax as the result of an investigation into a massive 2017 data breach that exposed the personal information of more than 1.1 million Kansans, Attorney General Derek Schmidt announced in a press release Monday.

 

The investigation found that Equifax’s failure to maintain a reasonable security system enabled hackers to penetrate its systems, exposing the data of 56 percent of American adults—the largest-ever breach of consumer data. The state attorneys general secured a settlement with Equifax that includes a Consumer Restitution Fund of up to $425 million, a $175 million payment to the states, and injunctive relief, which also includes a significant financial commitment.

Equifax has also agreed to take several steps to assist consumers who are either facing identity theft issues or who have already had their identities stolen. Consumers who are eligible for redress will be required to submit claims online or by mail.

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