Nearly half of all Americans were shocked to see that all of their personal data, including information on residence, social security numbers, and credit card data was exposed during the famous 2017 data breach.
Besides the state of Oregon, residents from 48 states were harmed by this unfortunate event. But when it comes to Oregon, nearly $1.8 million residents were affected by this data breach.
On Monday, the court reached the final decision and finished multiple ongoing investigations on the matter. The settlement was between the Equifax, all 48 states, and the District of Columbia and Puerto Rico.
Equifax was forced to pay a $100 million fine to the Consumer Financial Protection Bureau and over $175 million to all the states and their territories.
When it comes to consumers’ losses, Equifax settled for $425 million to address the issues which resulted from this data breach, since over 147 million people were compromised because their Social Security numbers, license plates, birth dates, addresses, and credit card data leaked out.
Rosenblum, representing the Rosenblum law firm, was extremely disappointed by the actions of this company. He stated that these “self-proclaimed stewards” of citizens’ data were shockingly careless when it comes to Oregonians’ personal information; and what makes the matter worse, they were well aware that the residents had no other choice but to give access to their data.
His office stated that the reason this breach occurred was because Equifax failed to ensure an adequate security system that would protect such sensitive personal information.
However, Equifax denied any wrongdoing in court on Monday.
Rosenblum’s office continued explaining that it was outrageous that Equifax denies any wrongdoing in this matter. His office is thoroughly familiar with the case, and they are well aware of what exactly happened. They state that Equifax failed to fully patch its systems and replace the software that was in charge of monitoring the network for any suspicious activity.
U.S. Rep. Greg Walden, the chair of the House Energy and Commerce Committee, stated that it was outrageous to find out that a significant U.S. company let American citizens down in such manner. He said that it would be like comparing this situation to an impossible one — it was as if the guards at Fort Knox disregarded locking the doors and failed to notice that the thieves had already emptied the vaults.
Consumers are getting regular updates over email on the Equifax restitution and credit monitoring.
When it comes to Oregonians, they will receive over $300 million to redress their losses, and according to the latest settlement agreement, if that amount is exhausted, the citizens of Oregon will have access to another $125 million.