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It’s likely that no one is getting $125 Equifax settlement payout: FTC

SAN FRANCISCO (KRON) – Just when you thought you were going to be $125 richer. Sorry, you may not be getting that Equifax data breach settlement money aft...
FILE – This July 21, 2012, file photo shows signage at the corporate headquarters of Equifax Inc., in Atlanta. Equifax will pay up to $700 million to settle with the Federal Trade Commission and others over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people. The proposed settlement with the Consumer Financial Protection Bureau, if approved by the federal district court Northern District of Georgia, will provide up to $425 million in monetary relief to consumers, a $100 million civil money penalty, and other relief. (AP Photo/Mike Stewart, File)

SAN FRANCISCO (KRON) – Just when you thought you were going to be $125 richer.

Sorry, you may not be getting that Equifax data breach settlement money after all.

The Federal Trade Commission says so many people are asking for cash payments linked the 2017 data breach that there may not be enough money for everyone.

As part of a $300 million settlement, people impacted by the data breach were offered free credit monitoring or a check for up to $125.

But because of the high response, there simply isn’t enough money to go around.

The FTC is suggesting people choose free credit monitoring rather than a $125 check.

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