Equifax, one of the three largest credit-reporting firms in the United States, has to pay up to $700 million in fines to settle a series of state and federal investigations into the massive 2017 data breach that exposed the personal and financial data of nearly 150 million Americans—that's almost half the country. |
Besides the penalty, the company has also been ordered to provide all American consumers with six free credit reports each year for seven years, along with the one free annual credit report, starting from January 2020. In September 2017, Equifax suffered a massive data breach that allowed hackers to steal personal information, including names, birth dates, addresses, social security numbers, and, in some cases, driver's license numbers, of as many as 147 million people. |