Colorado receives $3.16 million dollars in multi-state settlement with Equifax over 2017 data breach

July 22, 2019 (DENVER, Colo.) — Today, Colorado Attorney General Phil Weiser announced that Colorado will receive more than $3 million in a multistate settlement with Equifax, Inc. over a 2017 data breach. The breach compromised the personal information of 147 million people, including 2.5 million Coloradans. Today’s settlement is the largest data breach enforcement action in U.S. history.

The Attorney General’s complaint, filed in Denver District Court, alleges that Equifax violated the Colorado Consumer Protection Act by failing to protect large amounts of highly confidential information such as 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. 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,” said Weiser.

Under today’s $600 million dollar settlement, Equifax 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 important consumer protection efforts, includingenhanced enforcement and education efforts in the data privacy and security arena. In addition to the monetary settlement, Equifax must make significant improvements to its data security practices.

Consumers will be able to obtain information about the settlement, check their eligibility to file a claim, and file a claim on the Equifax Settlement Breach online registry. To receive email updates regarding the launch of this online registry, consumers can sign up at www.ftc.gov/equifax-data-breach. Eligible consumers can submit their claims at the settlement website www.Equifaxbreachsettlement.com or call a toll-free number (1-833-759-2982).

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CONTACT
Lawrence Pacheco, Director of Communications
(720) 508-6553 office | (720) 245-4689 cell
Email: Lawrence.pacheco@coag.gov