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Equifax has been breached

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I received this today. Great... just great...

 

Last week, one of the big four credit reporting agencies, Equifax, announced it experienced a security breach resulting in criminals accessing personal information of approximately 143 million Americans between May and July of this year. The compromised information included names, addresses, Social Security numbers, and dates of birth. In some instances, driver’s license numbers, credit card and credit dispute information were also compromised. This information is nearly everything that is needed to open an account in your name. 

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Well, it was only a matter of time. Personally I think all the credit bureaus need government oversight since they've marketed to have themselves considered intricate parts of the economy and basically have forced Americans to hand over their personal data. I can't say as I have much sympathy for their plight. Hopefully it will highlight the dangers of them amassing so much private data.

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1 hour ago, rcb said:

Well, it was only a matter of time. Personally I think all the credit bureaus need government oversight since they've marketed to have themselves considered intricate parts of the economy and basically have forced Americans to hand over their personal data. I can't say as I have much sympathy for their plight. Hopefully it will highlight the dangers of them amassing so much private data.

All government oversight will do is slow down their efficiency to the point of unprofitability and then we will be subsidizing them. This will correct itself in the form of backlash. Government is not the answer to this.......governments almost never the answer!

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Normally I agree, but these companies have forced themselves to be in the positions they are. I have no interest in them being profitable. I pay my stuff early and have few bills and have an "average" score, but yet my cousin up to his eyeballs in debt has a fantastic score. They are only a step removed from scam artists, collecting info they have no right to collect. At one time they collected information from banks to see if you paid your bills on time. Now they have a mountain of information and twist the economy to encourage massive debt. 

There needs to be legal limits to what all they hold and how they leverage the economy. They've spent years maneuvering their services to be "essential". Even the government uses them. They've enabled them, even providing privileged information to them.

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Companies like Equifax have been around for 50 years.  Back then they probably provided a useful service.  Now days they just accumulate information so hackers can steal it easier.

Wife heard about this last week at work.  Somebody, maybe many somebodys will do hard time in prison over this.

Yeah, don't really want the Government keeping this info.  None of their business.  They basically prove their incompetence every time they take on a task.

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I'm curious about the 3 executives that sold 1.8 million in stock right before the news of the hack.  ...................

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By the way----I heard today that if you accept Equifax'es offer of free credit monitoring for a year, that you give up any rights to sue, or receive anything from a class action law suit.

NICE------------REAL NICE!!! :angry:

Mike

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Update-----

I heard last night that Equifax has clarified their position, and the free credit monitoring WILL NOT affect any future settlements.

Mike

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I think Equifax should pay the ransom!! there the company that didn't protect people's information 

 Their job to compile information to give credit scores but also to protect it from hurting people's credit 

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