Equifax To Pay Over $3M To Coloradans In Data Breach Settlement

DENVER, CO — Colorado residents will receive more than $3 million from Equifax after a 2017 data breach that compromised the personal information of 147 million people. The data of more than 2.5 million Coloradans were compromised, according to Colorado Attorney General Phil Weiser.

Equifax violated the Colorado Consumer Protection Act by failing to protect highly confidential information, according to a complaint filed by the attorney general. The information included Social Security numbers, birthdates, addresses, driver’s license numbers and credit card numbers.

“Equifax acted recklessly by failing to take reasonable steps to protect consumer information they collected and stored. As one of the country’s largest credit bureaus, Equifax collected and monetized highly sensitive information about all Coloradans," Weiser said in a statement. "Equifax’s failure to protect that information is a clear violation of the Colorado Consumer Protection Act. This historic settlement sends a clear message that all businesses that collect and store confidential consumer information will be held responsible for how they protect—or fail to protect—that information."

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Equifax will pay up to $700 million to settle with the U.S. and states over the data breach. Under the settlement, the company must pay up to $425 million in consumer-related relief, which will include 10 years of free credit monitoring services, identity theft restoration services and hands-on assistance for consumers who wish to understand or dispute their credit report. The remaining $175 million will be paid directly to the participating states.

The $3.16 million going to Colorado will support a range of consumer protection efforts, including enhanced data protection enforcement and education initiatives, the attorney general's office said.

Those who have been impacted can receive information about the settlement, check their eligibility and file a claim on the Equifax Settlement Breach online registry. To receive email updates about the launch of the online registry, you can sign up at www.ftc.gov/equifax-data-breach. Claims can be submitted at www.Equifaxbreachsettlement.com or by calling 1-833-759-2982.