Equifax Victims Swarm To Collect Settlement Checks

Federal Trade Commission Warns Equifax Victims They Will See Smaller Settlement Checks

Equifax victims

The Federal Trade Commission is facing an issue over the Equifax settlement. Droves of Equifax victims are choosing a $125 cash payment over credit monitoring. Consumers are blowing up the math of the mega-settlement announced July 22.

The FTC is now saying Equifax victims will see lower settlement checks.

The FTC sent out statements last week including a press release and a blog post assuring victims a payment was still a choice. However, they urged people to chose the credit monitoring.

The statements also said the actual amount would be much smaller than the $125 initially offered. The FTC claims they hadn’t foreseen that so many people would want the cash. As a result, the FTC promised the payment-seekers, “You will be disappointed.”

Read more at MFI-Miami

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