Some Delawareans could receive payouts as part of what is being called the largest data breach settlement in history.
In 2017, the credit reporting agency Equifax announced a breach of personal data affecting more than 147 million consumers. The data included social security numbers, names, dates of birth and credit card numbers.
On Monday, Delaware Attorney General Kathy Jennings along with 49 other attorneys’ general announced a $600 million settlement with Equifax, including up to $425 million in consumer restitution.
Jennings points out consumers can no longer meaningfully participate in the modern economy without entrusting personal data.
“Companies like Equifax that collect and maintain personal information are entrusted with an obligation to maintain its privacy and its security,” said Jennings “Equifax breached that trust.”
But Jennings stopped short of saying whether she supports more regulation on companies that collect personal information.
“I think the amount of the settlement is going to send about as strong a message to the marketplace as any amount of regulations would, but certainly I’ll leave it to others to determine specific regulatory measures that should be taken,” she said.
Individuals who believe they were affected by the Equifax data breach can make their claim at ftc.gov/equifax to potentially be approved for cash payouts, free credit monitoring services and free identity restoration services.
Equifax will pay $175 million to states as part of the settlement—that includes $1 million to Delaware.