Elizabeth Warren calls for investigation into FTC for 'misleading' Equifax data breach victims

[TomCADem]

https://www.cnbc.com/2019/08/14/elizabeth-warren-calls-for-inquiry-into-ftc-over-equifax-settlement.html

Presidential contender Sen. Elizabeth Warren wants the Federal Trade Commission’s inspector general to open an investigation into the agency after it announced that victims of the Equifax data breach will get “nowhere near” the $125 compensation package originally advertised.

“The FTC has the authority to investigate and protect the public from unfair or deceptive acts or practices, including deceptive advertising,” Warren wrote to Andrew Katsaros, the agency watchdog, in a letter dated Tuesday.

“Unfortunately, it appears as though the agency itself may have misled the American public about the terms of the Equifax settlement and their ability to obtain the full reimbursement to which they are entitled,” she wrote.

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Warren notes that fund “would pay exactly 248,000 individuals” the full $125, “less than 1% of the 145 million individuals affected by the breach.”