User Panel
Posted: 7/31/2019 5:27:30 PM EDT
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 |
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$31 million divided by $125 is 248,000.
I think I have better chances of seeing my can of tuna than that $125. Assholes. |
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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.
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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.
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If Equifax is still advertising it, then they can be sued again to deliver what they promise.
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Quoted:
$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 https://www.tunalawsuit.com/Home.aspx |
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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? |
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This is why I went with the free credit monitoring.
Class action settlements rarely happen anywhere near or at all what they say. |
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Quoted:
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 View Quote |
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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. |
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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. |
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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! |
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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 |
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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.
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Quoted:
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 |
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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.
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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.
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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. |
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Quoted: Really? Offer $125 for "free" to pretty much the whole country and they are surprised people took them up on that offer? View Quote |
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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.
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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.
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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
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Has a single class action suit in the history of ever made a company (or whoever) actually fully make right what they did?
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Quoted:
I forgot all about that!!! Where is my fucking tuna??? https://www.tunalawsuit.com/Home.aspx View Quote |
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Quoted: 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 |
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Wonder how many 10’s of millions the lawyers are getting. Crooked f**ks
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Quoted:
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 Quoted:
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. Quoted:
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. |
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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. |
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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 Quoted:
Quoted:
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. Quoted:
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. I wonder how that happened? |
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