The Equifax data breach settlement resolved government and class action claims over the 2017 cyberattack that exposed personal information belonging to roughly 147 million people, with Equifax agreeing to pay up to $700 million. The deadline to file a claim has passed, and the settlement administrator sent final consumer payments in late 2024. Some breach-related benefits are still available at no cost.
What Equifax Agreed to Pay
The global settlement announced in July 2019 required Equifax to pay at least $575 million and potentially up to $700 million. The money was split three ways: a $100 million civil penalty to the Consumer Financial Protection Bureau, $175 million to the 48 participating states plus the District of Columbia and Puerto Rico, and a consumer restitution fund starting at $300 million that could grow to $425 million if needed.1FTC. Equifax to Pay $575 Million as Part of Settlement With FTC, CFPB, and States Related to 2017 Data Breach
The Federal Trade Commission alleged Equifax violated the FTC Act’s ban on unfair and deceptive practices and the Gramm-Leach-Bliley Act’s Safeguards Rule. The CFPB alleged violations of the Consumer Financial Protection Act, claiming Equifax failed to provide reasonable security for the sensitive data it held.2CFPB. CFPB, FTC, and States Announce Settlement With Equifax Over 2017 Data Breach The breach itself exposed names, Social Security numbers, birth dates, addresses, and in some cases driver’s license numbers.3FTC. Equifax Data Breach Settlement
What Consumers Could Claim
The consumer restitution fund offered several types of relief to affected class members:
- Up to ten years of free three-bureau credit monitoring, or a cash payment of up to $125 for people who already had credit monitoring in place.
- Reimbursement of out-of-pocket losses tied to the breach, including the cost of freezing and unfreezing credit reports, paying for credit monitoring services, and hiring professionals to address identity theft.
- Up to 20 hours of compensation at $25 per hour for time spent dealing with fraud or identity theft caused by the breach.
- Seven years of free assisted identity restoration services, available regardless of whether a person filed a claim for any other benefit.4Texas Attorney General. Equifax Data Breach5Equifax Breach Settlement. Equifax Data Breach Settlement
Payouts varied. People who documented specific losses or hours spent recovering from fraud received more than those who chose the alternative cash payment. Exact per-person amounts were set by the settlement administrator based on the terms of the settlement and were not publicly disclosed by Equifax. One published analysis put the average payout at roughly $2.58 per class member across the settlement as a whole, a figure that reflects the size of the affected group rather than the size of the fund.6Directors and Boards. What Boards Need to Know About Data Breach Class Actions
Is It Too Late to File a Claim?
Yes. The initial claims period closed on January 22, 2020. An extended claims period for new out-of-pocket losses or time spent ran from January 23, 2020, through January 22, 2024. No further extensions were granted, and the administrator has confirmed that the deadline to file any claim has passed.5Equifax Breach Settlement. Equifax Data Breach Settlement3FTC. Equifax Data Breach Settlement
Payments for eligible out-of-pocket losses and time spent began going out in mid-December 2022. Remaining and unclaimed funds from the consumer restitution pot were then distributed pro rata to eligible class members through electronic prepaid cards. In November and December 2024, the administrator sent the final round of payments to U.S. claimants, distributing roughly $70 million in alternative cash benefits, out-of-pocket reimbursements, and time-spent compensation. Eligible recipients got emails during the week of December 16, 2024, with instructions for redeeming their electronic prepaid cards.7Equifax. Equifax Statement on Settlement Administrator Distributing Final Payments8News10. Equifax Settlement: Did You Get an Email About Additional Payments
What’s Still Available
Two benefits outlast the claims process, and you don’t need to have filed anything to use them.
Free identity restoration services remain available to affected consumers through January 2029. These services help you respond to identity theft, whether or not it’s clearly connected to the Equifax breach, and they’re free regardless of whether you filed a claim.3FTC. Equifax Data Breach Settlement
All U.S. consumers are also eligible for seven free Equifax credit reports per year through 2026, accessible at annualcreditreport.com. That’s in addition to the standard free reports available from each of the three major bureaus.3FTC. Equifax Data Breach Settlement
Questions About a Previously Filed Claim
The settlement is administered by JND Legal Administration. If you filed a claim and want to check its status, or you think you should have received a payment or an email about a prepaid card and did not, contact the administrator directly.
The official website is equifaxbreachsettlement.com. The email address is info@EquifaxBreachSettlement.com and the phone number is 1-833-759-2982. Written questions can be sent to: Equifax Data Breach Settlement Administrator, c/o JND Legal Administration, PO Box 91318, Seattle, WA 98111-9418.9Equifax Breach Settlement FAQ. Frequently Asked Questions
If you get a call, text, or email claiming to be from the Equifax settlement and asking for payment or sensitive information to release your money, treat it as suspicious. The administrator’s official channels are the ones listed above.