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New York State Fines Equifax $19.2 Million

New York State Fines Equifax $19.2 Million

State Attorney General Letitia James announced that Equifax has been fined $19.2 million by state regulators stemming from a 2017 data breach as part of a settlement following investigations from the Attorney General’s office and State Department of Financial Services (DFS) after the financial and personal information of 8.5 million New Yorkers was exposed. $10 million will be paid to DFS, and $9.2 million to the Attorney General’s office. 

Equifax will be required to provide credit monitoring services and free annual credit reports, and to make restitution to consumers financially affected by the breach. Governor Cuomo stated:  “Credit rating agencies have a responsibility to safeguard consumers’ financial and personal information . . . In New York we are sending a clear message to these agencies that they will be held accountable if they leave consumers’ private data vulnerable to exposure, and we will continue our rigorous oversight of these agencies to ensure New Yorkers are protected in the future.”

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