6 ms·
This argument doesn't work when you consider that the payout isn't $125 per person, it's "a small percentage of $700m divided by the number of claimants (capped
by thedanbob 7y ago
This argument doesn't work when you consider that the payout isn't $125 per person, it's "a small percentage of $700m divided by the number of claimants (capped at $125)" per person[1]. Equifax doesn't get hurt any extra no matter how many people claim the money.
[1] https://www.theverge.com/2019/7/26/8932398/equifax-settlement-125-claim-wont-get-money-alternative-reimbursement-compensation https://www.theverge.com/2019/7/26/8932398/equifax-settlemen...
- Qwertystop 7y agoEquifax gets hurt a little bit extra for each person up until 5.6 million people are claiming, by those numbers.
- thedanbob 7y agoOk, I exaggerated a little. But only $31m is earmarked for cash payments so they only get hurt by the first 248,000 people who submit claims.
- ForHackernews 7y agoHow many people have submitted claims so far?
- LocalH 7y agoProbably far more, given the fact that this info seems to be spreading fairly well. I'm certain that by the time it's all over, so many people will have filed claims that the individual payout will be substantially less than $125.