Equifax data breach News

West Virginia Sues Equifax Over Data Breach

West Virginia sued Equifax Inc on Thursday for failing to safeguard consumer information of hundreds of thousands of state residents and for delaying alerting the public to a breach that exposed the personal data of about 148 million people, the …

Equifax Sued by Australia’s Competition Regulator for Allegedly Misleading Consumers

Australia’s competition regulator said on Friday it was suing credit reporting company Equifax Pty Ltd, owned by U.S.-based Equifax Inc, alleging it misled consumers and used unfair tactics with people in financial hardship. The alleged consumer law breaches by Equifax’s …

What Cyber Insurance Industry Learned from 2017 Hacks

The NotPetya, WannaCry and Equifax hacks of last year were evidence that the U.S. insurance industry has been ill-prepared to handle a large cyber attack and needs to up its game. However, as a consequence of the attacks in 2017, …

Equifax Breach Could be Costliest Yet at $439M; Insurance to Cover $125M

Equifax Inc. said it expects costs related to its massive 2017 data breach to surge by $275 million this year, suggesting the incident at the credit reporting bureau could turn out to be the most costly hack in corporate history. …

Equifax Breach Exposed More Consumer Data Than First Disclosed

The Equifax data breach exposed more of consumers’ personal information than the company first disclosed last year, according to documents given to lawmakers. The credit reporting company announced in September that the personal information of 145.5 million consumers had been …

Treasury to Look Into Consumer Financial Bureau’s Handling of Equifax Breach

U.S. Treasury Secretary Steven Mnuchin on Tuesday said he wants to know how the Consumer Financial Protection Bureau is handling a probe into a hack of credit bureau Equifax Inc. after a report that the agency’s chief has pulled back …

Trump’s Consumer Protection Bureau Pulls Back on Equifax Data Breach Probe: Reuters

Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Equifax Inc. failed to protect the personal data of millions of consumers, according to people familiar with the matter. Equifax (EFX.N) said …

Senators Propose Heavy Fines for Credit Agencies Over Privacy Data Breaches

Two Senate Democrats are proposing large new fines for credit reporting agencies that lose consumers’ personal information in data breaches, according to a bill they introduced on Wednesday. The bill would impose potentially significant fines against companies like Equifax, TransUnion, …

British Financial Regulator Investigates Equifax Hacking of UK Customer Data

Britain’s markets watchdog said it has opened an investigation into the hacking of U.S. credit reporting agency Equifax, which affected nearly 700,000 UK citizens. “The Financial Conduct Authority announces today that it is investigating the circumstances surrounding a cyber security …

Is It Time to Say So Long to Social Security Numbers?

The Trump administration is exploring ways to replace the use of Social Security numbers as the main method of assuring people’s identities in the wake of consumer credit agency Equifax Inc.’s massive data breach. The administration has called on federal …