LITTLE ROCK, Ark. (KFTA) — Arkansas Attorney General Leslie Rutledge today announced a settlement from Equifax for the largest-ever breach of consumer data, exposing the data of 56 percent of American adults.
The investigation into the 2017 data breach found that Equifax’s failure to maintain a reasonable security system enabled hackers to penetrate its systems. Arkansas received $2,521,481.31 in the settlement.
Attorney General Rutledge and a coalition of 49 other Attorneys General, comprising 48 states, the District of Columbia, and the Commonwealth of Puerto Rico reached a settlement with Equifax.
“Arkansans trusted Equifax with their personal information as a means to track their credit scores,” said Attorney General Rutledge. “We are holding the company accountable for its failure to safeguard personal information.”
The coalition secured a settlement with Equifax that includes a Consumer Restitution Fund of up to $425 million, a $175 million payment to the states, and injunctive relief, which also includes a significant financial commitment.
The settlement fund for affected consumers will provide up to 10 years of free credit monitoring and identity theft services, and reimburse affected consumers for time and money spent trying to avoid or recover from identity theft.