Judge Signs Off on Equifax’s $7.75M Settlement with FIs In 2017 Data Breach

A federal judge in Atlanta gave final approval Thursday to a $7.75 million settlement—including $2 million in legal fees—to resolve claims against Equifax by hundreds of financial institutions. 

The settlement deal—which stems from a 2017 data breach—also includes a promise by Equifax to invest an additional $25 million over two years in enhanced data security measures tailored to financial institutions.

Notices were sent to class members after Chief Judge Thomas Thrash of the Northern District of Georgia gave his preliminary approval to the settlement terms last June. Financial institutions have until Dec. 31 to make a claim.

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