![]() The deal, the FTC said in a July statement, was for “up to 10 years of free credit monitoring OR $125 if you decide not to enroll because you already have credit monitoring.” What wasn’t clear was that you couldn’t seek the cash payout unless you already had credit monitoring.īusiness Column: Insurance firms’ blunders on long-term care insurance create disaster for millionsĬalPERS and other marketers of long term care insurance screwed up their calculations, creating a crisis for millions of customers. Yet the agency’s multiple web postings arguably have stoked consumer confusion. Gruenwald noted that the FTC, in a July 31 blog post, notified applicants to expect an email from the settlement administrator asking them to identify the credit monitoring service they already have. She cited a July 22 blog post specifying that “affected consumers were only eligible for the alternative cash option if they already had credit monitoring.” “We would dispute the assertion that we had not previously made clear that the alternative cash payment was for those affected consumers who already have credit monitoring,” FTC spokeswoman Juliana Gruenwald told me by email. The FTC says it believes it has given consumers adequate notice of the terms of the deal. The latest wrinkle involves the realization that the $125 cash benefit was available only to people who already had credit monitoring in place (possible as a benefit from an earlier data breach permitted by our stunningly lackadaisical retailers, banks and data firms. ![]() But if you choose 10 years of credit monitoring, Equifax *must* cover it.- Alexandria Ocasio-Cortez July 27, 2019 There’s apparently a run on settlements so there’s anxiety people are going to get 16 cent checks. Okay everyone UPDATE on Equifax: for most people the better deal is 10 years of free credit monitoring.
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