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Equifax to pay up to $700M in data breach settlement
Published
7 years agoon
NEW YORK (AP) — Equifax will pay at least $700 million — and potentially much more — to settle lawsuits over a 2017 data breach that exposed the Social Security numbers and similar sensitive information of roughly half of the U.S. population.
The settlement with federal authorities and states , reached Monday, includes up to $425 million in monetary relief to consumers, a $100 million civil penalty, and other offers to the nearly 150 million people who could have been affected. It can’t, however, guarantee safety for individuals whose stolen information could circulate on the internet for decades.
The breach was one of the largest ever to threaten Americans’ private information. The credit reporting company didn’t notice the intruders targeting its databases, who exploited a known security vulnerability that Equifax hadn’t fixed, for more than six weeks.
The compromised data included Social Security numbers, birth dates, addresses, driver license numbers, credit card numbers and in some cases, data from passports. The resulting scandal led to the abrupt dismissal of Equifax’s then-CEO and many other executives at the company.
“Companies that profit from personal information have an extra responsibility to protect and secure that data,” said Federal Trade Commission Chairman Joe Simons. “Equifax failed to take basic steps that may have prevented the breach.”
Equifax CEO Mark Begor said in a statement that the settlement “reinforces our commitment to putting consumers first and safeguarding their data.”
Consumer advocates were generally positive on the settlement, but had concerns about its timescale. Claims can only be filed for the next four years, but the thieves stole permanently identifiable information like Social Security numbers and birthdates, the data could be used for decades to commit identity theft.
“What happens if a consumer is the victim of ID theft in the fifth year resulting from the breach, which costs the consumer tens of thousands of dollars?” said Chi Chi Wu, staff attorney at the National Consumer Law Center.
Shares of Equifax, which plunged 30% following disclosure of the breach, have since made up that drop. On Monday, Equifax stock price closed at $137.84 — not far from its price of $141.45, where it was trading just before the breach was disclosed on Sept. 7, 2017. Business analysts say the settlement will remove a cloud of uncertainty over Equifax’s business.
It also, however, underscores that U.S. consumers are still at the mercy of the credit-reporting companies when it comes to protecting their crucial personal details. Two years after the breach, Equifax, along with its competitors TransUnion and Experian, remain the primary repositories of the data that banks use to make credit decisions.
They face little regulation and disclose few details about their operations, despite promises to tighten security and rebuild consumer trust. Ordinary people have no easy way to opt out of the data collection that lands their personal details in corporate databases.
Equifax’s CEO said he has seen zero evidence the stolen data has appeared for sale on the so-called “dark web” and no evidence of an increased identity theft because of the breach. The company did not provide any evidence to back up that claim.
Security experts said there’s really no way to know, especially in the absence of third-party validation. “You cannot determine with certainty that the information will never wind up in the hands of people who are going to use it,” said Ryan Calo, a law professor at the University of Washington.
“It is a lifetime risk exposure,” said Rich Mogull, CEO of the security firm Securosis, who added that the data might be useful for surreptitious uses beyond direct identity fraud.
Settlement payments will flow through a number of complex channels. Equifax will initially pay $380.5 million into a fund to cover identity theft resulting from the breach, as well as any costs related to credit monitoring. The company will pay an additional $125 million if victims’ out-of-pocket expenses deplete the initial fund.
Should all 147 million victims sign up for credit monitoring services, Equifax could potentially be on the hook for $2 billion.
Equifax will offer victims of the breach free credit monitoring services for up to 10 years, identity-restoration services for seven years, and six Equifax credit reports annually for the next seven years. That’s on top of the free report all credit reporting companies must offer U.S. residents every year.
Victims can also seek up to $125 as a reimbursement for the cost of a credit-monitoring product of their choice. Consumers must submit claims for free credit monitoring or cash reimbursements. The settlement received preliminary approval from a federal judge Monday, and claims can start processing Tuesday.
Equifax will have to spend at least $1 billion over five years to enhance its cybersecurity practices and will owe a $100 million fine to the Consumer Financial Protection Bureau and tens of millions of dollars to states and territories to settle their lawsuits.
For information on the terms of the settlement, as well as to file a claim, potential victims should go to https://www.equifaxbreachsettlement.com .
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Business
Addition Financial, Rosen Preschools Partner to Expand Financial Literacy for Central Florida Children
Published
2 weeks agoon
September 22, 2026Now in its fourth year, ADDing FUNdamentals introduces children as young as 4 to saving, needs versus wants and other basic money concepts through classroom activities and take-home resources.
ORLANDO, Fla. (FNN) — Addition Financial Credit Union is expanding its ADDing FUNdamentals community impact program through a new partnership with Rosen Preschools, bringing financial literacy education to children as young as 4 while providing resources designed to extend those lessons into their homes.
Now in its fourth year, ADDing FUNdamentals introduces preschool-aged children to basic money-management concepts through interactive, age-appropriate learning experiences.
Developed through a partnership with Junior Achievement of Central Florida and the Early Learning Coalition of Orange County, the program uses Junior Achievement’s JA Ourselves curriculum to teach children foundational concepts including making choices, distinguishing needs from wants and saving money.
Rosen Preschools is participating in the program for the first time, expanding the initiative’s reach to more children and families in Central Florida.
Addition Financial Credit Union, Rosen Preschools and community partners celebrate the expansion of the ADDing FUNdamentals financial literacy program, which introduces preschool-aged children to basic money-management concepts through hands-on learning and imaginative play.
Financial Lessons Extend Beyond the Classroom
As part of the initiative, volunteers from Addition Financial, Junior Achievement and Rosen Hotels & Resorts assembled backpacks filled with educational resources designed to help children follow along with classroom lessons and continue learning at home with their families.
A portion of the backpacks will be distributed to Rosen Tangelo Park Preschool and Rosen Preschool in Parramore.
Addition Financial is also providing playhouses modeled after miniature credit unions, giving students an opportunity to practice basic money-management concepts through imaginative play.
The combination of classroom instruction, hands-on activities and take-home materials is designed to reinforce financial concepts while encouraging families to continue conversations about money outside the classroom.
Rosen CEO: Financial Literacy Is a Critical Life Skill
Frank Santos, president and CEO of Rosen Hotels & Resorts, said his professional background in finance has made financial literacy an issue he strongly supports.
“We are very proud to partner with Addition Financial to bring the ADDing FUNdamentals program to the Rosen Preschools,” Santos said. “Having spent a majority of my career in finance, I am a big advocate for financial literacy.”
Santos called financial literacy a critical life skill and said introducing foundational lessons early, while also sending educational materials home to families, can help prepare children for long-term success.
Addition Financial Focuses on Starting Financial Education Early
Kevin Dougherty, chief operations officer at Addition Financial Credit Union, said the partnership with Rosen expands the program’s ability to introduce financial concepts during children’s formative years.
“We are incredibly grateful to have an organization of Rosen’s caliber become a part of the ADDing FUNdamentals program,” Dougherty said. “The students at Rosen Preschools will now get a jump start on developing key skills many of us take for granted — understanding and managing money.”
Dougherty said the response to the program since its launch demonstrates interest in providing financial education at an early age.
“The positive response and success we’ve seen since launching the program speaks to the need of fostering financial education at an early age,” Dougherty said.

Building Financial Skills Through Community Partnerships
The collaboration brings together a credit union, hospitality organization and education-focused community partners around a shared effort to introduce financial concepts to children early in life.
Rather than limiting the experience to classroom instruction, ADDing FUNdamentals combines curriculum, interactive play and educational materials that children can take home and share with their families.
The addition of Rosen Preschools in the program’s fourth year further expands its presence in Central Florida and brings the financial literacy initiative into the Tangelo Park and Parramore communities.
Through lessons on saving, choices and needs versus wants, participating children receive an early introduction to concepts they will encounter throughout their lives.
Central Florida News
Mario Andretti Headlines First 15 Drivers Named to Sebring’s Historic ‘Class of 75’
Published
3 weeks agoon
September 15, 2026By
FNN SPORTSSebring International Raceway begins honoring 75 of the event’s most successful drivers ahead of the historic 75th running of the Mobil 1 Twelve Hours of Sebring on March 20, 2027
SEBRING, Fla. (FNN SPORTS) — Racing legend Mario Andretti headlines the first group of drivers selected for Sebring International Raceway’s “Class of 75,” recognizing 75 of the most successful drivers in the history of the Mobil 1 Twelve Hours of Sebring.
The recognition comes ahead of the 75th running of the Mobil 1 Twelve Hours of Sebring on March 20, 2027.
A 10-person panel of sports car racing experts debated and voted on the 75 drivers. The selections have been divided into five groups of 15, with additional names scheduled to be announced monthly through January.
The first Twelve Hours of Sebring was held March 15, 1952. Since then, the endurance race has been canceled only once, in 1974 amid the global energy crisis.
First 15 Drivers Named to ‘Class of 75’
The inaugural group includes Bob Akin, Mario Andretti, Joao Barbosa, Geoff Brabham, Derek Daly, Phil Hill, Bruce Jennings, Sascha Maassen, John Morton, Jim Pace, Hans Stuck, Nick Tandy, Richard Thompson, Fermin Velez and Andy Wallace.
Together, the drivers represent generations of Sebring history, from the race’s formative years to the modern IMSA era.
Andretti’s Place in Sebring History
Andretti made six starts at Sebring, earning three overall victories and one additional class win.
His overall victories came in 1967, 1970 and 1972. His 1970 triumph remains one of the race’s most celebrated finishes.
Andretti started that race from the pole in Ferrari’s No. 19 entry but retired the car with gearbox problems. Ferrari later moved him into the No. 21 Ferrari 512S for the closing stages.
Andretti ultimately defeated Peter Revson by 23.8 seconds, which at the time represented the closest finish in Sebring history.
Champions Across Generations
The Class of 75 also includes Phil Hill, a three-time overall Sebring winner who competed 13 times between 1953 and 1966. Hill won overall in 1958, 1959 and 1961 and added three class victories.
Hans Stuck also earned three overall victories, beginning with BMW’s landmark 1975 win. He returned to Victory Lane with Porsche in 1986 and 1988 and added two class victories during his Sebring career.
Geoff Brabham won overall in 1989 and 1991 during Nissan’s GTP era, while Derek Daly recorded two victories in three Sebring starts.
Fermin Velez captured consecutive overall victories in 1995 and 1996 driving a Ferrari 333SP, while Andy Wallace won back-to-back overall titles in 1992 and 1993 in the Toyota Eagle Mk III.
Tandy Represents Sebring’s Modern Era
Among the modern-era selections is Nick Tandy, who has accumulated one overall victory, three class wins and five podium finishes in 12 Sebring starts.
After class victories with Porsche in 2018, 2019 and 2020, Tandy joined Porsche Penske Motorsport’s prototype program.
His long-awaited overall Sebring victory came in 2025, when he teamed with Felipe Nasr and Laurens Vanthoor in a Porsche 963. The trio defeated the sister Penske entry by just 2.2 seconds.
Privateers and Sebring Mainstays Recognized
The selections extend beyond overall winners.
Bruce Jennings made 18 Sebring appearances and became one of the event’s notable privateer competitors. His 1962 debut produced a class victory and third-place overall finish.
Richard Thompson, known as the “Flying Dentist,” competed in the inaugural 1952 race. Thompson reportedly drove his MG-TD from Washington to Sebring, finished eighth and then drove the car home. He ultimately made 14 Sebring starts and earned two class victories.
Sascha Maassen recorded five Sebring victories, including four consecutive class wins from 2001 through 2004 with Alex Job Racing.
The group also recognizes the achievements of Bob Akin, Joao Barbosa, John Morton and Jim Pace, each of whom earned overall Sebring victories during their careers.
Four More Groups Coming
Sebring will unveil the remaining 60 members of its Class of 75 in four installments.
The next 15 drivers will be announced Oct. 13, followed by additional groups on Nov. 10, Dec. 15 and Jan. 12.
The complete list will ultimately recognize 75 drivers representing the history of America’s oldest major endurance race.
75th Twelve Hours of Sebring Tickets
Tickets, hospitality packages, car corral parking and reserved RV locations are currently in a renewal period through Sept. 16.
General admission tickets and parking passes are scheduled to go on sale Oct. 1. Highlands County resident tickets will also become available Oct. 1 with proof of residency and must be purchased in person at the raceway ticket office.
Fans can find ticket information and join waiting lists for hospitality, car corrals and trackside RV parking through Sebring International Raceway.
The 75th Mobil 1 Twelve Hours of Sebring is scheduled for March 20, 2027.
Business
Addition Financial Foundation Awards $175,000 to 10 Central Florida Nonprofits
Published
4 weeks agoon
September 10, 2026Fifth annual Community Giving Celebration recognizes organizations serving families, students and communities across the region
ORLANDO, Fla. (FNN) — The Addition Financial Foundation honored 10 Central Florida nonprofit organizations Wednesday during its fifth annual Community Giving Celebration, awarding $175,000 in unrestricted grants and providing recipients with year-round organizational support.
The breakfast and awards ceremony was held at Addition Financial Arena on the University of Central Florida campus, bringing together representatives from the nonprofit, government, education and business communities.
Established in 2021, the foundation is the philanthropic arm of Lake Mary-based Addition Financial Credit Union. Each organization selected for the 2026 Community Giving Class was nominated by an Addition Financial team member based on its work in communities served by the credit union.
10 NONPROFITS RECEIVE COMMUNITY GIVING GRANTS
Three organizations — Central Florida Community Arts, Children’s Safety Village and Embrace Health — each received $20,000 grants. Seven additional nonprofits received $15,000 each: Empowered Girls Inc., First Tee Central Florida, Foundation for Foster Children, Gentian Creek Preserve, Prospera, Save a Life Pet Rescue and Tech Sassy Girlz.
The grants are unrestricted, allowing the organizations to direct the funding toward areas they determine will have the greatest impact.
“The Community Giving Celebration gives us an opportunity to shine a light on nonprofit organizations that are addressing important needs and creating meaningful change across our community,” said Cristina Lehman, executive director of the Addition Financial Foundation.
Lehman said the foundation’s involvement extends beyond the grants, including connecting organizations with volunteers, resources and opportunities throughout the year.
ADDITIONAL $5,000 AWARDS PRESENTED
Two additional $5,000 awards were presented during the celebration.
The Greatest Investment Girls Empowerment Program, a previous Community Giving Class participant, received one award. Save a Life Pet Rescue received another following a vote by Addition Financial team members who contribute to the foundation.
In addition to financial support, the 2026 class will receive volunteer assistance from Addition Financial employees, complimentary use of the organization’s community room and workshops on topics including media relations, fundraising and grant writing.
YEAR-ROUND COMMUNITY INVESTMENT
The Community Giving program is designed to build relationships between Addition Financial and nonprofit organizations beyond a single grant cycle.
This year’s recipients work across a range of areas, including arts and culture, child safety, health, youth development, education, foster care, environmental conservation, entrepreneurship, animal rescue and technology education.
Through unrestricted grants and continuing support, the foundation said the program is intended to help nonprofits strengthen their operations while expanding their impact throughout Central Florida.
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