Part of the huge settlement announced Monday by Equifax over its massive 2017 data breach includes lots of free credit reports for consumers.
Just don’t count on it being a way to prevent criminals from accessing your file.
The settlement — which could reach more than $650 million and must still be approved by the courts — includes Equifax paying $300 million to a fund that would provide affected consumers with credit-monitoring services, along with compensating those who paid for such services as a result of the 2017 data breach.
The agreement calls for Equifax to provide consumers with six free credit reports each year for seven years beginning in January 2020, according to the Federal Trade Commission’s announcement of the resolution. That would be in addition to the one free annual report that consumers are entitled to from each of the nationwide credit-reporting firms.
Mark Begor, CEO of Equifax, takes his seat for the Senate Homeland Security and Governmental Affairs…