Introduction
On Monday, FTC Chairman Joseph Simons announced a settlement with Equifax that “includes at least $575 million – and up to $700 million – in monetary relief, as well as important conduct provisions” due to the company’s 2017 data breach and its lack of a quick response.
According to Commissioner Rebecca Kelly Slaughter, the majority of the payments will be compensatory, “up to $425 million in direct relief to consumers in the form of compensation for breach-related harms and extensive free credit monitoring, plus rigorous data security requirements.” This seems