News

Equifax May Owe You a $125 Payment. But Let’s Be Real, You’ll Get Much Less

Published

5 years ago

August 17, 2019

The Federal Trade Commission (FTC) on June 22^nd announced the outcome of a settlement with Equifax, one of the three major credit monitoring firms in the United States.

The settlement requires Equifax to pay somewhere between $500 and $700 million in restitution for a 2017 data breach that affected about 147 million people across the United States, according to Jacqueline Connor, a privacy attorney with the FTC. The amount of the settlement is the highest in U.S. history for a data breach and the number of people impacted represents almost half the United States’ population. That’s nearly every adult in the country who has credit.

In California alone, Hackers were able to access and expose the personal information of about 15 million people.

“Our credit status impacts nearly every aspect of our lives – from purchasing a home or a car to finding a job,” said California Attorney General Xavier Becerra. “The same Americans who had to immediately protect themselves from fraudsters or identify thieves will have to be vigilant for the rest of their lives. We encourage every eligible person to apply for the relief they are entitled to as part of our settlement.”

About $300 million of the settlement amount will go to making payments to Americans affected by the breach. Equifax will pay another $275 million in fines to close the investigation by the Consumer Financial Protection Bureau and to end legal action by states who filed lawsuits against the company.

The hackers, who have not yet been identified, penetrated Equifax’s data files and were able to steal social security numbers, credit card numbers, addresses and other personal data. The breach affected all 50 states, the District of Columbia and U.S. territories.

To compensate victims, Equifax has set up a website (EquifaxBreachSettlement. com) where you can first check to see if you were affected by the breach. Then, you can apply for a check payment of “up to” $125, or you can choose free credit monitoring with all three major credit bureaus for up to four years, a value of a little over $950. When that period is over, you can choose to opt in for free credit monitoring by Equifax for another six years.

Because “millions of people” affected have filed claims for the $125 payment option since the settlement announcement, the FTC, which is responsible for consumer protection across the country, says applying for a cash payment is not the best way to go. So, as an alternative, Equifax is primarily now offering free credit monitoring to its customers affected by the data breach. If you’re already signed up for a free credit monitoring service and intend to keep it for the next six months, then you can apply for the $125 payment.

“The pot of money that pays for that part of the settlement is $31 million,” the FTC said in a statement. “A large number of claims for cash instead of credit monitoring means only one thing: Each person who takes the money option will wind up only getting a small amount of money. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.”

For Equifax to have paid out the full $125 to each person affected, a number of no more than 248,000 people would have needed to apply. If all 147 million people end up filing a claim, individual payouts would shrivel down to around .22 cents per person.

The cost for Equifax’s credit monitoring service is $19.99 a month, according to the company’s website. If every victim of the breach signs up, it could cost Equifax up to $2 billion to cover the costs.

Victims of identity theft or other fraud resulting directly from the breach who have documentation to back up their claim, will receive compensation of $25 an hour (for up to 20 hours) of the time they took to resolve the problem. They will be eligible for up to another 10 hours of $25-an-hour payments for the time they took to research or purchase protection services, including freezing their credit, after the fraud happened.

Those who incurred legal expenses or spent money on credit monitoring, notaries and other approved fines as a result of the hack, are eligible for up to $20,000 per person in reimbursements. They will also be required to show proof that their claims are valid.

The deadline to file all claims is Jan. 22, 2020.

Manny Otiko, California Black Media

Posts by Manny Otiko, California Black Media

Activism

NAACP California-Hawaii State Convention Highlights Black Voter Engagement, and More

A Friday panel featuring NAACP Chairman Leon W. Russell and Regina Wilson, Executive Director of California Black Media, examined Project 2025, an initiative perceived as a potential threat to civil rights, healthcare access, and environmental protection. This session emphasized Project 2025’s projected impact on Black communities, noting that policies within the initiative could diminish gains in civil and environmental rights over decades. Russell and Wilson highlighted the need for vigilant monitoring and community mobilization to address these challenges.

Published

18 hours ago

November 4, 2024

Oakland Post

NAACP State Conference President Rick Callender (right) engages in a discussion on voter engagement and community advocacy with NAACP President and CEO Derrick Johnson during the 37th NAACP California-Hawaii State Convention in Los Angeles. Photo by Rich Woods.

By Bo Tefu, California Black Media

The 37th NAACP California-Hawaii State Convention concluded on Sunday, Oct 27, following four days of discussions and workshops at the Los Angeles Airport Marriott. Bringing together civil rights leaders, policymakers, and advocates from California and Hawaii, the convention operated under the theme “All In.” The participants discussed critical issues impacting Black communities, including criminal justice reform, health equity, economic empowerment, education, environmental justice, and voting rights.

On Saturday, the President’s Fireside Chat brought together NAACP President Derrick Johnson and CA/HI State Conference President Rick Callender, who discussed the urgency of voter engagement and community advocacy.

Guest speakers included Congresswoman Maxine Waters (D-CA-43), who spoke at the Women in NAACP (WIN) Labor Luncheon about the intersection of labor rights and civil rights. California State Superintendent Tony Thurmond delivered remarks at the Leadership Dinner on education equity, focusing on policies to ensure all students have access to high-quality education.

Honors were given to longtime social justice advocate and former Assemblymember Mike Davis for his work in community activism. At the same time, actor and activist Danny Glover and the Rev. Dr. Amos C. Brown received the 2024 Legacy Hall of Fame Awards, recognizing their lifelong commitments to advancing civil rights.

The convention also offered practical workshops, including “What’s On Your Ballot?,” where coalition leaders provided analyses of California propositions, explaining their potential impacts on community rights and resources. The Voter Turnout Workshop provided background and encouraged participants to promote voter turnout through community-centered outreach strategies.

Sunday’s events closed with a Prayer and Memorial Breakfast honoring the contributions of past and current civil rights leaders.

Oakland Post

Posts by Oakland Post

Bay Area

Alameda County Judge Blasts Defendants Over Delay in West Oakland Fire Trial

Judge Kimberly Lowell excoriated the RadiusRecycling/SchnitzerSteel defendants in court for causing delays in prosecuting this case. Since the defendants first appeared in court on July 23, they have obtained three extensions of the arraignment date.

Published

18 hours ago

November 4, 2024

Oakland Post

Criminal charges announced this week are related to the August 2023 scrap metal fire at Radius Recycling Inc., formerly Schnitzer Steel. Photo courtesy of Oaklandside.

Special to The Post

District Attorney Pamela Price announced that a hearing was held on October 30 in the criminal prosecution of the Radius Recycling/Schnitzer Steel involving a fire at the West Oakland facility on Aug. 9-10, 2023.

The Alameda County criminal Grand Jury indicted radius Recycling and two of its corporate managers in June 2024.

The court clarified that the defendants will not receive more extensions on their arraignment and plea.

Alameda County District Attorney Pamela Price agreed with the court that defendants should not get preferential treatment. Price and her team appreciated the court for clarifying that future delays by Radius will not be tolerated.

The Bay Area Air Quality Management District’s (BAAQMD) public data shows that during and after the fire, the smoke plume traveled across Alameda County with high levels of PM 2.5 (Particulate Matter less than 2.5 microns in diameter) detected around Laney College in Oakland, Livermore, Pleasanton, and West Oakland.

PM2.5 is particularly harmful to infants and children, the elderly, and people with asthma or heart disease.

“This fire posed a great health hazard to the people of Alameda County,” said Price. “High, short-term exposures to a toxic smoke plume have been shown to cause significant danger to human health.

“Additionally, in this case, Oakland firefighters battled the blaze under extremely dangerous conditions for 15 hours with assistance from a San Francisco Fire Department fireboat and a fireboat from the City of Alameda Fire Department,” Price observed.

The team prosecuting the case from the DA’s Consumer Justice Bureau looks forward to resolving any future motions and having the defendants arraigned in court on Dec. 9.

The media relations office of the Alameda County District Attorney’s office is the source of this report.

Oakland Post

Posts by Oakland Post

Alameda County

D.A. Price Charges Coliseum Flea Market Vendors in Organized Retail Theft Case

The charges against Octavio Ambriz Valle, 52, Devora Ambriz Valle, 49, and Felipe Del Toro Trejo, 54, include multiple felony counts of possessing stolen property and organized retail theft in concert. It is alleged that the trio of vendors possessed stolen property valued at $348,466 from nine different retailers, including Kohl’s, Macy’s, PetSmart, Sephora, Sunglass Hut, TJX, Target, Walgreens, and Walmart.

Published

19 hours ago

November 4, 2024

Oakland Post

Alameda County courthouse. Courtesy photo.

Alameda County Courthouse File photo.

Special to The Post

Alameda County District Attorney Pamela Price announced today that her office charged three people in connection with multiple organized retail theft crimes stemming from a sophisticated criminal enterprise operating at the Oakland Coliseum Flea Market from March 26, 2023, through April 17, 2024.

It is alleged that the trio of vendors possessed stolen property valued at $348,466 from nine different retailers, including Kohl’s, Macy’s, PetSmart, Sephora, Sunglass Hut, TJX, Target, Walgreens, and Walmart.

Last year, the District Attorney’s Office successfully competed and received a $2 million grant from the California Department of Justice to combat organized retail theft. Price added another $2 million to bolster the Organized Retail Crime Alameda (ORCA) unit which is fully operational and collaborating with numerous law enforcement agencies.

“For over a year, this enterprise supported criminal networks by requesting and buying specific products from brazen boosters who repeatedly terrorized retailers,” said Price. “I want to acknowledge our Organized Retail Crime Alameda (ORCA) Vertical Prosecution Unit for its great work and the role they played in this multi-jurisdiction investigation, which included the California Highway Patrol Golden Gate Division Organized Retail Crime Task Force, the San Mateo County Sheriff’s Office, and San Ramon Police Department.”

If convicted and sentenced on all charges, Octavio Ambriz Valle faces a maximum sentence of nine years in County jail; Devora Ambriz Valle faces a maximum sentence of five years in County jail; and Felipe Del Toro Trejo faces a maximum sentence of three years and eight months in County jail.