![]() ![]() Regardless, I’m off to pump a few “free” gallons of gas. For example, in the settlement for the Experian data breach, you got up to a certain amount just by claiming it, and if you wanted more you had to show your receipts. If these consequences neither deter future cyber-negligence nor compensate victims for harms experienced, what, then, are they for? Unfortunately, some argue they are ‘mostly exercises in public relations,’ remediating the reputation of both regulators and companies alike.” Settlements like the Equifax one “neither affect the business practices of these global giants, nor do they provide adequate remedies for the victims harmed. 30: According to the settlement, Experian agreed to pay 22.45 million to resolve claims for incorrectly reporting some residential information as high risk when their credit reports. “Even when companies are unquestionably at legal fault, the victims of data malfeasance are frequently unable to receive adequate compensation, if anything at all,” writes Indiana University law professor Joao Marinotti in an NYU Law Review article. At least 10 years of free credit monitoring (a value of 1,920) Up to 20,000 in compensation for documented out-of-pocket losses Up to 500 for time spent. While I’m happy to have a few more dollars in my bank account, I’d be even happier if Equifax had been truly held accountable for its egregious data breach. 6 likes, 1 comments - Rick Allen (30foldbenefits) on Instagram: Experian / T-Mobile Data Breach Settlement Read the full article and learn what to do if. Even if the average payment were $15, that would mean close to 10 million Americans filed a claim, or 6.7%. If it were $5.20, that would mean 28 million Americans filed a claim, or close to 20% of eligible individuals. Print By Matt Delaney - The Washington Times - Wednesday, NovemOver 16 million in settlements have been collected by multiple state attorneys general from the consumer credit. If you were affected by the Equifax breach, you can't file a claim just yet. Under a settlement filed today, Equifax agreed to spend up to 425 million to help people affected by the data breach. It is hard to know the average payment made by Equifax, but it appears to be quite low. In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. I questioned this forecast in 2019: “was it reasonable to assume that only 248,000 would want to at least get some money back after Equifax’s egregious handling of their data? Was it reasonable to assume that there wouldn’t be more anger and a desire to make Equifax pay for its security lapses?” ![]() That translates to a forecasted claim rate of 0.17%. In a settlement with the United States Federal Trade Commission, Equifax offered affected users settlement funds and free credit monitoring. With a purported settlement payment of $125 and a fixed pot of $31 million, Schoshinski appears to have calculated that only 248,000 Americans would file a claim and ask for the cash payment. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |