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Elizabeth Warren Urges Probe Into Equifax Data-breach Settlement

The impact of the Equifax data breach continues to reverberate. Sen. Elizabeth Warren (D-Mass.) has called for an investigation into the Federal Trade Commission after the agency announced that victims will get “nowhere near” the touted $125-per-person payout. So reports CNBC.

The presidential nomination contender wrote (PDF) to the FTC’s inspector general, Andrew Katsaros, that “the agency itself may have misled the American public about the terms of the Equifax settlement and their ability to obtain the full reimbursement to which they are entitled.”

The FTC recently announced a $700 million settlement over the breach, which affected 145 million Americans. The settlement included either free credit monitoring or compensation of “up to” $125 for each person affected. But, under the deal, the cash payout would be reduced if more than 248,000 people applied for it.

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