Equifax

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Warren Wants to Stop Equifax From Profiting Off Data Breach

She's introduced the Freedom From Equifax Exploitation Act

(Newser) - Sen. Elizabeth Warren—and 11 other Democratic senators—introduced legislation Friday targeting credit reporting companies in the wake of the Equifax data breach that affected 143 million US consumers, Reuters reports. In short, the Freedom from Equifax Exploitation Act would keep Equifax from profiting off its own data breach, according...

Equifax Could Have Fixed Bug Exploited by Hackers. It Didn't

Patch for web application vulnerability was released 2 months before data breach

(Newser) - Remember that massive Equifax data breach that exposed the names, security numbers, and more of 143 million US consumers? It now appears Equifax had "clear and simple instructions" on how to avoid it and more than two months to follow them. The credit reporting company announced Thursday that hackers...

Facing Public Wrath, Equifax Ditches Fee

Company says credit freezes will be free until Nov. 21

(Newser) - Equifax has decided not to anger 143 million Americans any further by charging them to protect themselves from its massive data breach . The credit-monitoring company, facing a flood of complaints about its handling of the breach, bowed to public pressure Tuesday and said it would drop fees until Nov. 21...

If Firms Can't Protect Data, We Shouldn't Let Them Collect It

Farhad Manjoo writes that Equifax is unlikely to face consequences over breach

(Newser) - The way tech writer Farhad Manjoo of the New York Times sees it, Equifax had "one job"—to protect the mountains of sensitive financial data it has collected on Americans. As news of the recent mammoth breach made clear, the company failed at that one job, and the...

Class-Action Lawsuit Seeks Up to $70B From Equifax

Company accused of not doing enough to prevent massive data breach

(Newser) - After exposing the names, Social Security numbers, birth dates, and more of 143 million Americans in a massive data breach , Equifax is now facing a potentially billion-dollar class-action lawsuit. USA Today reports a lawsuit was filed against the credit monitoring company Thursday in Oregon on behalf of customers Mary McHill...

Why 'Breathtaking' Equifax Breach May Be Worst One Ever

Amount of 'highly sensitive' data that was exposed may be unprecedented

(Newser) - Almost half of the US population may have been affected by the massive Equifax data breach , with the credit bureau revealing the personal info for as many as 143 million customers may have been exposed. Even as a handful of its top execs face a barrage of criticism for selling...

3 Equifax Execs Sold $1.8M in Stock Days After Hack Discovered

Company says they didn't know about intrusion

(Newser) - Days after Equifax discovered a massive security breach affecting 143 million Americans, three senior executives sold off almost $2 million in shares. The company says it discovered the intrusion, which was only made public Thursday, on July 29. Records show that three days later, Chief Financial Officer John Gamble; Joseph...

Social Security Numbers of 143M Exposed in Equifax Hack

Also names, addresses, birth dates, and more

(Newser) - The Social Security numbers and birth dates of up to 143 million US consumers were stolen from Equifax in what appears to be one of the largest data breaches in history, Bloomberg reports. According to the Los Angeles Times , Equifax, one of the three major credit reporting firms in the...

Guy Named 'God' Finally Settles Lawsuit

Equifax had refused to acknowledge God Gazarov

(Newser) - A New York City man whose first name is God has settled a lawsuit with a credit reporting agency that had refused to recognize his name as legitimate. Under the agreement reached in Brooklyn federal court this week, Equifax will enter God Gazarov's name into its database. The terms...

Medical Debt Gets a Break in Credit-Report Overhaul

Big 3 agencies agree to revamp system to better address errors, medical bills

(Newser) - Good news for consumers who've had to play the waiting game to pay off medical debt: The three largest credit-reporting agencies in the US are working together to overhaul their systems to take better care of customer issues and the way medical debt is handled, Reuters reports. In a...

Study: 1 in 5 Had Error in Their Credit Reports

But few of the errors would change prices consumers pay

(Newser) - One in five consumers had an error in a credit report issued by a major agency, according to a government study released today. The Federal Trade Commission study also said that 5% of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto...

To Dodge Recession, Move to Huntsville

Mid-size cities do better in crunch, have seen lending increase

(Newser) - While big cities and rural areas have taken a beating as the financial crisis unfolds, many mid-size cities have seen consumer lending increase, indicating an economic resilience that other areas lack, the Wall Street Journal reports. In cities with populations around 400,000—like Huntsville, Ala.; McAllen, Texas; and Provo,...

New Credit Scores in Play Today

Fair Isaac Corp. hopes new scores will better predict consumer defaults

(Newser) - New credit scores intended to make identifying bad risks easier make their debut today, with TransUnion taking the lead in offering “FICO 08” metrics, reports the Wall Street Journal. The new formula is more forgiving of one-time lapses than its predecessors, but popularizing it may take years, according to...

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