Equifax breach victims get $7 each. Lawyers get $77 million | Fast Company


We were going to remind you of the January 22 deadline to file your claim for a $125 Equifax settlement, but your payout will now only be $6.80, CNBC reports—which is not worth the time it takes to fill out the application.

What changed? Equifax is paying out $700 million in the wake of its 2017 data breach, of which only $380 million is earmarked for consumer compensation. Of that fund, only $31 million was set aside for cash compensation to typical consumers, which is enough to pay $125 to 248,000 applicants. How many people applied? Four and a half million, which nets out to $6.80 per person. “Public response has been overwhelming,” says the FTC.

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