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