Illinois gets share of $700M Equifax data breach settlement
CHICAGO — Illinois will get over $7 million in Equifax’s up to $700 million settlement with the Federal Trade Commission and others over a 2017 data breach that exposed private information of nearly 150 million people.
The proposed settlement with the Consumer Financial Protection Bureau will provide up to $425 million in monetary relief to consumers and a $100 million civil money penalty.
Federal officials coordinated the investigation with attorneys general nationwide, including Illinois Attorney General Kwame Raoul.
Raoul says in a Monday statement that the historic settlement sends a message that those tasked with protecting personal information are accountable.
Affected consumers may be eligible to receive money by filing claims for conditions including money spent purchasing credit monitoring.
The breach was among the largest ever to threaten the private information. The compromised data included Social Security numbers.