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Westlaw News

IN BRIEF: Equifax agrees to settle financial institutions' claims over 2017 data breach

Equifax has agreed to a proposed class action settlement with financial institutions over its 2017 data breach that affected roughly 147 million people in the U.S., lawyers representing the credit unions and banks said in a filing in Georgia federal court on Friday.

The company will pay up to $5.5 million for class members and commit to spending at least $25 million on data security measures over a two-year period under the proposed deal, according to the unopposed motion for preliminary approval of the settlement.

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