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    Equifax Settlement Payouts Will Be “Nowhere Near $125”

    A few days ago, I wrote about the Equifax Data Breach Settlement. Those affected by the breach could file a claim for Alternative Reimbursement Compensation for up to $125. The Federal Trade Commission now says that due to overwhelming public response, “up to $125” will actually be nowhere near $125. The FTC has had millions of claimants visit their site in the first week. Because the total amount available for the Alternative Reimbursement Compensation is $31 million, each person who takes the money option is going to get a very small, disappointing amount. The FTC is encouraging claimants to choose the free credit monitoring instead, which they say provides a “much…