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Posted: 7/31/2019 4:27:30 PM EST
n a memo on Wednesday, FTC assistant director Robert Schoshinski said the regulator has been overwhelmed by people filing claims against Equifax after the biz was cyber-looted by hackers in 2017. He then warned that, because the settlement with the mega-hacked outfit had been capped, it is very unlikely people will end up receiving that promised $125 each. In fact, the deal may be worth no more than 21 cents. We note that the website folks can file claims through, ftc.gov/equifax, no longer mentions a $125 option, whereas Equifax's website still offers it.

"There is a downside to this unexpected number of claims," noted Schoshinski. "The pot of money that pays for that part of the settlement is $31 million. A large number of claims for cash instead of credit monitoring means only one thing: each person who takes the money option will wind up only getting a small amount of money. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed."
View Quote
https://www.theregister.co.uk/2019/07/31/ftc_equifax_settlement/
Link Posted: 7/31/2019 4:30:18 PM EST
$31 million divided by $125 is 248,000.

I think I have better chances of seeing my can of tuna than that $125.

Assholes.
Link Posted: 7/31/2019 4:30:47 PM EST
The best part of all this will be when that eligibility check website gets hacked and all the last names and last 6 digits of everyone's socials get stolen.
Link Posted: 7/31/2019 4:33:26 PM EST
So I'm still gonna' (maybe) get my 10 years of credit monitoring? lol They'll probably restructure and invalidate that too. The bank always wins.
Link Posted: 7/31/2019 4:34:06 PM EST
Lol
Link Posted: 7/31/2019 4:36:30 PM EST
If Equifax is still advertising it, then they can be sued again to deliver what they promise.

Link Posted: 7/31/2019 4:37:21 PM EST
[Last Edit: 7/31/2019 4:38:11 PM EST by cornhskr]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By strat81:
$31 million divided by $125 is 248,000.

I think I have better chances of seeing my can of tuna than that $125.

Assholes.
View Quote
I forgot all about that!!! Where is my fucking tuna???

https://www.tunalawsuit.com/Home.aspx
Link Posted: 7/31/2019 4:37:32 PM EST
This is why i never bothered entering my personal info on some dumbass site. I don't care if it was legit.

How secure do you think some wordpress or frontpage site set up by a lawyer is?
Link Posted: 7/31/2019 4:38:23 PM EST
I knew it was too good to be true.
Link Posted: 7/31/2019 4:39:33 PM EST
This is why I went with the free credit monitoring.

Class action settlements rarely happen anywhere near or at all what they say.
Link Posted: 7/31/2019 4:41:32 PM EST
Don't worry the fucking lawyers are getting paid.
Link Posted: 7/31/2019 4:42:47 PM EST
Originally Posted By MrYar:
n a memo on Wednesday, FTC assistant director Robert Schoshinski said the regulator has been overwhelmed by people filing claims against Equifax after the biz was cyber-looted by hackers in 2017. He then warned that, because the settlement with the mega-hacked outfit had been capped, it is very unlikely people will end up receiving that promised $125 each. In fact, the deal may be worth no more than 21 cents. We note that the website folks can file claims through, ftc.gov/equifax, no longer mentions a $125 option, whereas Equifax's website still offers it.

"There is a downside to this unexpected number of claims," noted Schoshinski. "The pot of money that pays for that part of the settlement is $31 million. A large number of claims for cash instead of credit monitoring means only one thing: each person who takes the money option will wind up only getting a small amount of money. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed."
View Quote
https://www.theregister.co.uk/2019/07/31/ftc_equifax_settlement/
View Quote
Really? Offer $125 for "free" to pretty much the whole country and they are surprised people took them up on that offer?
Link Posted: 7/31/2019 4:42:55 PM EST
[Last Edit: 7/31/2019 4:43:26 PM EST by scuba_ed]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By strat81:
$31 million divided by $125 is 248,000.

I think I have better chances of seeing my can of tuna than that $125.

Assholes.
View Quote
You had to know fees, costs THEN Lawyers fees had to be paid first, too, right?
Link Posted: 7/31/2019 4:44:45 PM EST
nobody gets paid in class action suits except the lawyers.
That being said, I'll sign up for the crappy 4 years of "free" monitoring.. most credit cards do it already these days though.
Link Posted: 7/31/2019 4:49:44 PM EST
Yeah, where is my fucking tuna?
Link Posted: 7/31/2019 4:51:03 PM EST
Damn, I have to return $250 worth of ammo now
Link Posted: 7/31/2019 4:57:13 PM EST
this is all bullshit, the only reason identity theft exists is because the big 3 refuse to stop it. hell they now sell their own monitoring services to profit off their own failure.

There is zero reason all credit should not be 2 factor authorization with the person approving everything and notified instantly.
Link Posted: 7/31/2019 5:06:02 PM EST
Lol, I thought the amount offered was an insult and a joke considering what's at risk. Turns out it's even significantly less than that, if anything!

Fuck Equifax!
Link Posted: 7/31/2019 5:09:49 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Alnen123:
Lol, I thought the amount offered was an insult and a joke considering what's at risk. Turns out it's even significantly less than that, if anything!

Fuck Equifax!
View Quote
Yup.
Link Posted: 7/31/2019 5:10:03 PM EST
As long as the lawyers walk away with millions, I'm happy!
Link Posted: 7/31/2019 5:12:25 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By PikeSlayer:
Yeah, where is my fucking tuna?
View Quote
I'll take mine in $125 worth of imitation crab meat.
Link Posted: 7/31/2019 5:13:32 PM EST
[Last Edit: 7/31/2019 5:14:02 PM EST by dangerranger61007]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By chmodx:
This is why I went with the free credit monitoring.

Class action settlements rarely happen anywhere near or at all what they say.
View Quote
I got a notice I was eligible for a class action lawsuit the other day. $5, wowee. Not worth filling that out, only worth anything to the lawyers.
Link Posted: 7/31/2019 5:14:33 PM EST
I don't plan on getting any loans so if they want to get CC's and such, let em. They can pound sand when I tell them I never signed up for anything.
Link Posted: 7/31/2019 5:15:00 PM EST
Of course.
Link Posted: 7/31/2019 5:16:20 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dangerranger61007:

I got a notice I was eligible for a class action lawsuit the other day. $5, wowee. Not worth filling that out, only worth anything to the lawyers.
View Quote
I got over $400 from the Harbor Fright settlement so I have hope. Got over $300 from the Microsoft laptop deal years ago.
Link Posted: 7/31/2019 5:27:00 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By SoonerBorn:
As long as the lawyers walk away with millions, I'm happy!
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And the FTC get's their big 'announcement.'
Link Posted: 7/31/2019 5:44:28 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By strat81:
$31 million divided by $125 is 248,000.

I think I have better chances of seeing my can of tuna than that $125.

Assholes.
View Quote
@strat81 nice avatar
Link Posted: 7/31/2019 5:47:07 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By strat81:
$31 million divided by $125 is 248,000.

I think I have better chances of seeing my can of tuna than that $125.

Assholes.
View Quote
In fact, the deal may be worth no more than 21 cents.

Yea, and still waiting on my tuna refund
Link Posted: 7/31/2019 5:50:32 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Orion_Shall_Rise:
this is all bullshit, the only reason identity theft exists is because the big 3 refuse to stop it. hell they now sell their own monitoring services to profit off their own failure.

There is zero reason all credit should not be 2 factor authorization with the person approving everything and notified instantly.
View Quote
Hmmmmmmmm. I'm gonna have to think about that one....
Link Posted: 7/31/2019 5:55:52 PM EST
They know the exact number of people "affected" so why the fuck wasn't the penalty enough to cover those for the $125? I was hoping for around $350 each for myself and my wife.
Link Posted: 7/31/2019 5:56:10 PM EST
Uhhh, I already spent the $125. Went to the mailbox for my check and it hasn't arrived yet. Hope it does soon so I can pay my credit card bill.
Link Posted: 7/31/2019 5:58:35 PM EST
There was some class action over a magazine publisher selling subscriber info.
My parents FO'd but I didn't.

Mom showed me her $98.xx check the other day.
Link Posted: 7/31/2019 5:58:58 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Ayada:

Really? Offer $125 for "free" to pretty much the whole country and they are surprised people took them up on that offer?
View Quote
Not exactly. You put in your name and part of your social to see if you're in the database. Not sure if anyone actually came back with sorry, you weren't impacted. I fat fingered my wife's social and was denied, but accepted when I punched in the correct number.
Link Posted: 7/31/2019 5:59:27 PM EST
I want my .21 cents in a gift card.
Link Posted: 7/31/2019 5:59:34 PM EST
I didn't have any credit cards at the time so my data wasn't affected. I was kinda bummed I didn't get the $125, but on the plus side, neither will anyone else and my data wasn't compromised in the first place, so I have that going for me, which is nice.
Link Posted: 7/31/2019 6:01:23 PM EST
But I already have credit monitoring.

Meh
Link Posted: 7/31/2019 6:01:45 PM EST
Well the silly Harbor Freight settlement ended up paying out a lot more than expected. But most of the time I've only seen pennies from any of these types of things.
Link Posted: 7/31/2019 6:05:14 PM EST
Considering how heavily hacked massive databases are being hit on a monthly basis, any agency assuming a SSN and B'date alone is sufficient to issue credit, is a dumbass and should expect to find themselves fleeced
Link Posted: 7/31/2019 6:12:09 PM EST
Has a single class action suit in the history of ever made a company (or whoever) actually fully make right what they did?
Link Posted: 7/31/2019 6:14:40 PM EST
I submitted my claim today for the $125
Link Posted: 7/31/2019 6:16:02 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By wagonwheel1:
I want my .21 cents in a gift card.
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The check or gift card, envelope, and stamp will end up costing way more than what each individual will end up getting.
Link Posted: 7/31/2019 6:17:45 PM EST
Link Posted: 7/31/2019 6:20:09 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By cornhskr:

I forgot all about that!!! Where is my fucking tuna???

https://www.tunalawsuit.com/Home.aspx
View Quote
Schooner Tuna!
Link Posted: 7/31/2019 6:25:31 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By metalsaber:
Don't worry the fucking lawyers are getting paid.
View Quote
They are the only ones that win in a class action lawsuit.
Link Posted: 7/31/2019 6:26:24 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By youngandfree:

Not exactly. You put in your name and part of your social to see if you're in the database. Not sure if anyone actually came back with sorry, you weren't impacted. I fat fingered my wife's social and was denied, but accepted when I punched in the correct number.
View Quote
I ran myself (affected) and my parents and a friend, all over 75 years old, all unaffected. Friend had a car loan in 2017, father had a credit card, mother hasn't had credit in decades.
Link Posted: 7/31/2019 6:30:06 PM EST
Wonder how many 10’s of millions the lawyers are getting. Crooked f**ks
Link Posted: 7/31/2019 6:30:52 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By ntxar15:

Schooner Tuna!
View Quote
The Tuna with a Heart!
Link Posted: 7/31/2019 6:37:41 PM EST
Totally surprising!...
Link Posted: 7/31/2019 7:55:08 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By D_Man:
The best part of all this will be when that eligibility check website gets hacked and all the last names and last 6 digits of everyone's socials get stolen.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By D_Man:
The best part of all this will be when that eligibility check website gets hacked and all the last names and last 6 digits of everyone's socials get stolen.
Do you feel lucky?

Originally Posted By operatorerror:
So I'm still gonna' (maybe) get my 10 years of credit monitoring? lol They'll probably restructure and invalidate that too. The bank always wins.
If you read the small print, if you elected to take the free credit monitoring, you lose your right to the the $125 settlement.
Link Posted: 7/31/2019 8:00:10 PM EST
Yet again, no real repercussions for the company responsible.

This is something far stricter laws are needed on. I'm perfectly fine with something like 50% of the company's value in fines for massive data breaches. That's the kind of fine that would make C-Levels really get on the infosec game and take it seriously.

If it breaks them and they go bankrupt? Oh the fuck well. You knew and decided to take the gamble.
Link Posted: 7/31/2019 8:00:57 PM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Caeser2001:
Do you feel lucky?

If you read the small print, if you elected to take the free credit monitoring, you lose your right to the the $125 settlement.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Caeser2001:
Originally Posted By D_Man:
The best part of all this will be when that eligibility check website gets hacked and all the last names and last 6 digits of everyone's socials get stolen.
Do you feel lucky?

Originally Posted By operatorerror:
So I'm still gonna' (maybe) get my 10 years of credit monitoring? lol They'll probably restructure and invalidate that too. The bank always wins.
If you read the small print, if you elected to take the free credit monitoring, you lose your right to the the $125 settlement.
And the 10 years of monitoring is 4 years of the 4 credit bureaus and then 6 years by Equifax only.

I wonder how that happened?
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