The Hawaii Office of Consumer Protection said Monday that the state has settled an investigation into the 2017 Equifax Inc.’s data breach.
In addition to consumer “restitution,” the state of Hawaii will receive $1 million as a result of the settlement.
Hawaii joined a coalition of 48 states, the District of Columbia and the Commonwealth of Puerto Rico in an investigation and negotiation of the terms of the settlement.
According to a press release, “The investigation found that Equifax’s failure to maintain a reasonable security system enabled hackers to penetrate its systems, exposing the data of more than 147 million Americans, which included 56 percent of American adults.”
The breached information, says the state, included social security numbers, names, dates of birth, addresses, credit card numbers “and in some cases” driver’s license numbers.
The settlement with Equifax includes a Consumer Restitution Fund of up to $425 million, a $175 million payment to the states, and injunctive relief, “which also includes a significant financial commitment.”
And Equifax has agreed to pay an additional $100 million to settle a federal investigation at the Consumer Financial Protection Bureau, and agreed as well to strengthen security practices.
According to the the Hawaii Office of Consumer Protection, it all amounts to “the largest ever breach of consumer data and enforcement action on the matter to date.”
“Equifax’s conduct undermined consumers’ confidence in the ability of the credit reporting industry to safeguard confidential information,” said Stephen Levins, executive director of the office. “This settlement will send a strong message to Equifax and to other companies that failing to implement adequate protections will have severe consequences.”
Click here for more information about eligibility for restitution or how to enroll in credit monitoring.
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