In the News Today - August 1, 2019

August 01, 2019

FTC Says Not Everyone Will Get Paid Though Equifax Settlement: The Federal Trade Commission (FTC) is warning consumers that due to “overwhelming” interest, they won’t receive the full payout option previously announced in the Equifax data breach settlement. The FTC’s Privacy and Identity Protection Division assistant director said the large number of claims “means only one thing: each person who takes the money option will wind up only getting a small amount of money.” He urged consumers to opt for free credit monitoring instead. Included in the initial $380.5 million restitution fund is a $77.5 million cutout for attorneys’ fees. (Law360)