Equifax Reaches $700 Million Settlement Over Data Breach

Equifax has reached a $700 million settlement over the largest data breach in history.

The Federal Trade Commission says that the credit bureau will pay into a fund to compensate consumers affected by the 2017 breach.

Nearly 150 million people had their sensitive data stolen, including Social Security and drivers’ license numbers.

The FTC says the $700 million settlement also includes fines and civil penalties.

Michigan will get $4.6 million from the settlement.

Equifax is also now required to overhaul how it handles private user data.