Equifax to pay $700M after massive data breach

Over half of the record settlement from the credit reporting agency will go to the nearly 150 million people whose personal information was exposed in 2017, given they have the proper documentation.
1:25 | 07/22/19

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Transcript for Equifax to pay $700M after massive data breach
Now, to your money tonight, and after that major data breach, your personal information, equifax is now paying a record amount. The krot recording agency paying up to $700 million, Millis will go to American consumers. ABC's chief business correspondent Rebecca Jarvis with what you need to know. Reporter: Tonight, potential relief for the 147 million Americans impacted by that massive equifax data breach. We vigorously encourage every person who was impacted by the equifax data breach to apply for the relief that they are entitled to as part of this settlement. Reporter: The credit bureau agreeing to pay almost $700 million, including up to $425 million going to consumers. As much as $20,000 to each victim who lost money to identity theft or even just spent time trying to protect their data in the wake of the breach. But to collect anything, you need to gather the right documents, like statements showing losses to your counts, receipts for the money you spent monitoring credit, even fees paid. And for those who spent time dealing with the data breach, they are now eligible for $25 an hour for up to 20 hours. Victims could also get ten years of free credit monitoring, but remember, this is not automatic. You have to file a claim in order to be eligible, David. All right, your first time back with us. Great to have you. Congrats. In other news tonight, there is news on the federal budget

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