Nearly two years after credit monitoring company Equifax announced that a “Cybersecurity Incident” had exposed personal information of 147 million Americans, it will pay at least $575 million, and potentially up to $700 million, to end a federal, state, and consumer claims against it. If the proposed settlement receives federal district court approval (as expected), it would be the largest ever for a data breach.
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It has been one year since credit monitoring company Equifax announced that a “Cybersecurity Incident” had exposed names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license and credit card numbers, from nearly 148 million Americans, which means that it’s time for an identity theft prevention check in.
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Worries about rising inflation have spooked stock and bond investors. As a reminder, inflation occurs when the prices of goods and services rise and as a result, every dollar you spend in the economy purchases less. The annual rate of inflation over from 1917 until 2017 has averaged just over 3 percent annually. That might not sound like much, but consider this: today you need $7,272.09 in cash to buy what $1,000 could buy in 50 years ago.
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