Equifax has agreed to a record-breaking settlement related to its massive 2017 data breach. The massive breach exposed the personal and financial records of more than 148 million people. The credit ratings agency must also spend $1 billion over the next five years to improve its data security. The settlement also requires Equifax to spend another $125 million for cash compensation and potentially much more if the number of class members who sign up for credit monitoring exceeds 7 million. In late May, investor ratings giant Moody’s slashed the outlook on Equifax from stable to negative in the first such downgrade attributable to a cyberattack.”]