Equifax settlement provides insight into regulators' thinking

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On July 22, 2019, the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), 48 states and the District of Columbia and Puerto Rico announced a global settlement with Equifax arising from the company’s 2017 data breach.

While the size of the Equifax settlement is noteworthy by itself, the information security requirements imposed on Equifax by the regulators are also informative, as they provide insight into the standards of conduct that regulators expect from corporations in possession of consumer personal information.

Read more about the settlement, and insurance considerations that companies should evaluate to protect themselves.