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Consumer Law

Equifax users will get ‘nowhere near’ $125 promised after hack

The fine print on the settlement for the Equifax hack ensured that it would not be simple.

The company agreed to offer people 10 years of free credit monitoring or up to $125 if they were among the 147 million Americans whose data was stolen in 2017.

But there was a catch. Due to the fact that the pool for the settlement is capped at $31 million, there was a risk that the payout would amount to less than $125 if demand were high.

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