Equifax will pay up to $700 million over 2017 data breach

Consumer credit bureau Equifax has reached a deal with state and federal regulators to pay at least $650 million related to a 2017 data breach that exposed the personal data of close to 150 million Americans.

The settlement, announced by the Federal Trade Commission on Monday, has to receive approval from a federal court. It requires the company to create a fund of at least $300 million and up to $425 million for consumers affected by the hack. The amount of money in the restitution fund could change depending on the number of people who file claims saying they were harmed by the 2017 data breach.