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Equifax Faces Multibillion-Dollar Lawsuit Over Hack

bloomberg.com

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Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#51

Post by mcbits »

wyldfire wrote: post #4
mcbits wrote: post #2

Not if everyone signs up for free credit monitoring as their settlement.

Gee, does that automatically settle the claim? I suppose it only would if there were some kind of agreement you make when you apply for the service. I take some mild comfort knowing that > 90% of US adults likely have been impacted (wild guess at US folks who have ever applied for credit -- or it's probably a good amount smaller number if the scope is ever-requested-a-credit-report).

I'm not an Equifax customer and don't plan to become one by signing up for anything, so I haven't seen the terms, but I would fully expect to see some kind of indemnification in there.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#52

Post by empath75 »

zimbatm wrote: post #43

How does Equifax build their database of people exactly? If it's all based on public information then they could argue that it's not really a leak. They are merely interpreting public information to build credit score. If guess for subscribers they could get more information than publicly accessible. What fraction does it represent?

The credit card companies and lenders provide them with your information. It's not public.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#53

Post by quadyeast »

atom_enger wrote: post #3

The super fucked up part is that it automatically signs you up for their "Credit protection" if you use their site to see if you were impacted. Doesn't ask if you'd like to, just says "Thanks for signing up, your year starts now!"

Second bullet on https://www.equifaxsecurity2017.com/enroll/ contradicts the "automatically"?

... Regardless of whether your information may have been impacted, we will provide you the option to enroll in TrustedID Premier.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#54

Post by pishpash »

zimbatm wrote: post #43

How does Equifax build their database of people exactly? If it's all based on public information then they could argue that it's not really a leak. They are merely interpreting public information to build credit score. If guess for subscribers they could get more information than publicly accessible. What fraction does it represent?

It's not public data, it's data that creditors provide.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#55

Post by nashashmi »

hedora wrote: post #17

I'd love to see the $70B number pan out (though $500 per person is less than the damages, I think) -- Equifax is a $17B company, and would presumably stop existing if that happened. On the other hand, these things always settle out of court, and Equifax certainly won't settle the suit for more than they're worth. I said it elsewhere, but I think the right response is to opt out of the class, and sue for $1000 in smal…

The ideal way to recompensate $500 or $1000 dollars is to sign up everyone for credit/id theft protection, for say, 5 years.

I don't know where else they get their revenue from, but free credit protection will hurt them significantly in the long run.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#56

Post by anarbadalov »

java_script wrote: post #13
atom_enger wrote: post #3

The super fucked up part is that it automatically signs you up for their "Credit protection" if you use their site to see if you were impacted. Doesn't ask if you'd like to, just says "Thanks for signing up, your year starts now!"

From my reading of ToS it also apparently waives your right to be a part of a class action lawsuit against Equifax...

This is beyond absurd.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#57

Post by platypii »

stcredzero wrote: post #49
hedora wrote: post #17

I'd love to see the $70B number pan out (though $500 per person is less than the damages, I think) -- Equifax is a $17B company, and would presumably stop existing if that happened. On the other hand, these things always settle out of court, and Equifax certainly won't settle the suit for more than they're worth. I said it elsewhere, but I think the right response is to opt out of the class, and sue for $1000 in smal…

I said it elsewhere, but I think the right response is to opt out of the class, and sue for $1000 in small claims court. There's usually no enforcement of penalties in small claims court.

Submit it to debt collectors and put it on Equifax's credit report

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#58

Post by esMazer »

leesalminen wrote: post #41
mlrtime wrote: post #29

Earlier quoted context omitted.

Could we create a service that automates most of the work required to sue in SCC?

I'd pay $20 for a service that can walk me through what to do/say, templates legal forms, etc. I would absolutely take the time to sue Equifax in small claims court.

same here, heck I'd pay $99

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#59

Post by jsloss »

platypii wrote: post #57
stcredzero wrote: post #49

Earlier quoted context omitted.

I said it elsewhere, but I think the right response is to opt out of the class, and sue for $1000 in small claims court. There's usually no enforcement of penalties in small claims court.

Submit it to debt collectors and put it on Equifax's credit report

This. So much this.
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