Equifax will dish out $300 million to cover free credit monitoring services for impacted consumers. $175 million to 48 states in the U.S, $100 million in civil penalties to the Consumer Financial Protection Bureau. If the initial amount does not cover consumer losses, the company may need to pay an additional $125 million. Security experts for their part hope that other companies will take note of the fines imposed that were tied privacy and data breach incidents. Earlier in July, the FTC slapped a $5 billion fine on Facebook for privacy violations following its Cambridge Analytica incident.
Source: https://threatpost.com/equifax-to-pay-700-million-in-2017-data-breach-settlement/146579/