Millions of victims of the Equifax data breach have just learned their $125 settlement is a charade
The ID theft protection firm LifeLock is certainly one of the big winners from the big data breach suffered by Equifax, which exposed the personal information of 143 million Americans to hackers.“It appears the agency itself may have misled the American public about the terms of the Equifax settlement and their ability to obtain the full reimbursement to which they are entitled,” Warren wrote.
Among them was Rep. Alexandria Ocasio-Cortez , who initially advised constituents to opt for the cash, but then backtracked. There’s apparently a run on settlements so there’s anxiety people are going to get 16 cent checks. But if you choose 10 years of credit monitoring, Equifax *must* cover it.The latest wrinkle involves the realization that the $125 cash benefit was available only to people who already had credit monitoring in place (possible as a benefit from an earlier data breach permitted by our stunningly lackadaisical retailers, banks and data firms.
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