On the same day it was hit with a $700 million fine by the U.S. Federal Trade Commission, Equifax has agreed to a proposed settlement worth at least $1.4 billion in a multidistrict class-action suit over its 2017 data breach, Law.com reports. According to court papers filed at a U.S. District Court in Georgia, the settlement features a $1 billion commitment by the credit-reporting company to improve cybersecurity measures over the next five years. Equifax will also establish a $380.5 million fund over a four-year span that will go toward credit monitoring and financial help for any of the 147 million victims who are still feeling the effects of the breach. (Registration may be required to access this story.)
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