On July 22, 2019, the FTC announced that Equifax agreed to pay at least $575 million, and potentially up to $700 million, as part of a global settlement agreement with the FTC, the CFPB, and 50 U.S. states and territories to resolve investigations into the colossal data breach the company suffered in 2017. This is the largest data breach settlement in U.S. history.
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On October 23, 2018, the parties in the Yahoo! Inc. Customer Data Security Breach Litigation pending in the Northern District of California and the parties in the related litigation pending in California state court filed a motion seeking preliminary approval of a settlement related to breaches of the company’s data.
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Effective October 1, 2018, Connecticut law requires organizations that experience a security breach affecting Connecticut residents’ Social Security numbers to provide 24 months of credit monitoring to affected individuals. Previously, Connecticut law required entities to provide 12 months of credit monitoring for breaches affecting SSNs.
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On June 23, 2017, Anthem Inc., the nation’s second largest health insurer, reached a record 115 million dollar settlement in a class action lawsuit arising out of a 2015 data breach that exposed the personal information of more than 78 million people. Among other things, the settlement creates a pool of funds to provide credit monitoring and reimbursement for out-of-pocket costs for customers.
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