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Wednesday, August 21, 2019  Spokane, Washington  Est. May 19, 1883
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News >  Business

Report: Equifax to pay $700 million settlement for 2017 data breach

The corporate headquarters of Equifax Inc. in Atlanta is seen July 21, 2012. A former Equifax executive who sold stock a week and a half before the company announced a massive data breach was sentenced Thursday, June 27, 2019, to serve four months in federal prison for insider trading. (Mike Stewart / Associated Press)
The corporate headquarters of Equifax Inc. in Atlanta is seen July 21, 2012. A former Equifax executive who sold stock a week and a half before the company announced a massive data breach was sentenced Thursday, June 27, 2019, to serve four months in federal prison for insider trading. (Mike Stewart / Associated Press)
Associated Press

SAN FRANCISCO – The Wall Street Journal says Equifax will pay around $700 million to settle with the Federal Trade Commission over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people.

The Journal, citing unnamed sources familiar with the matter, said the settlement could be announced as soon as Monday. Equifax declined to comment.

The report says the deal would resolve investigations by the FTC, the Consumer Financial Protection Bureau and most state attorneys general. It would also resolve a nationwide consumer class-action lawsuit.

The breach was one of the largest affecting people’s private information. Atlanta-based Equifax did not notice the attack for more than six weeks. The compromised data included Social Security numbers, birth dates, addresses, driver license numbers and credit card numbers.

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