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Equifax Faces Multibillion-Dollar Lawsuit Over Hack

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Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#471

Post by IgorPartola »

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…

If you can write up the process in detail for my state, I will give you 15% of what I win from them. If you automate it as much as possible, 20%.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#472

Post by eh78ssxv2f »

cliffcrosland wrote: post #467

To be honest, I feel bad for the engineering team at Equifax. The vulnerability that compromised their system was a bug in an open-source Java library, Apache Struts, and security researchers only noticed it a few days ago. It seems that the Equifax team had very little time to react and update their software. In some sense, I feel that more blame should be placed on the engineers who built the highly popular open-so…

I would have expected the data to be encrypted at rest. I am not sure why that was not the case.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#473

Post by jaranha »

Taek wrote: post #289
eduren wrote: post #9

>In the complaint filed in Portland, Ore., federal court, users alleged Equifax was negligent in failing to protect consumer data, choosing to save money instead of spending on technical safeguards that could have stopped the attack. Doesn't "users" imply that we had a choice in the matter? As if we're Equifax's customers? I feel more like we're victims in this case.

Got an email from my Dad today: "I checked myself, my wife, you and your brother. To the best of my knowledge none of us have Equifax accounts, but it says they probably got our address & driver's license for all four of us. I don't want to waste money on LifeLock. What can I do? Just watch my accounts?" Is Visa, MasterCard, etc. at least partially to blame here for picking a bad solution? My personal ties are not wi…

You should watch your accounts. I use Credit Karma and they will send you alerts and updates for various credit events (account opening/closing, paying off a balance, etc). It's free. Edit: They only monitor TransUnion and Equifax data; not Experian.

If you don't want to pay for LifeLock, which I agree is a bit steep, you can usually get an identity theft protection policy from most major insurances companies. The premiums vary, but are usually a fraction of LifeLock's fees. Just be sure you understand what's covered.

I use both of those and it costs me $25/yr total.

You can check the Fair Credit Reporting Act for more information about various parties' responsibilities in handling your credit information. However, I don't think you'd be able to sue lenders/creditors in this case. They are distinct from the credit reporting agency that seems to be at fault.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#474

Post by throwaway613834 »

mgleason_3 wrote: post #450
wildmusings wrote: post #408

Earlier quoted context omitted.

The government can't just dissolve a corporation on a whim. We have due process and the rule of law.

What I can't believe is why there's not a criminal case against these idiots? When you are controlling something dangerous and you allow that thing to harm someone else, it's a criminal offense. It's not a matter of whether it's hard. It's simply your responsibility to ensure no one gets hurt. This company has already caused harm to literally everyone in the US. Minimally, we all now have to take action to attempt to…

> This company has already caused harm to literally everyone in the US.

Not yet. People might be annoyed but not many of them have been harmed yet. They're harmed when their identity is actually stolen (i.e. used by someone else), not merely when someone gets access to their data.

(Not saying I like this system. Just saying this it how the system works.)

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#475

Post by IgorPartola »

throwaway613834 wrote: post #465
badwolf wrote: post #445

Earlier quoted context omitted.

Even worse, is if you don't immediately notice a new account on your credit report, that then goes to collections. -_- 10 years later and I still get threatening calls from the shadiest of shady "collection agencies"

Do you know if there's any way to "notice" these new accounts without having to freeze your credit or otherwise mess with the normal process for getting new credit? I just want a notification, nothing else.

Credit Karma seems to do that OK. Their score is wildly different from their supposed source though.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#476

Post by [deleted] »

cr0sh wrote: post #387
walshemj wrote: post #108

Earlier quoted context omitted.

ah lovely "papers please citizen" and what happen when friend computer with all this proof of identity gets hacked. Maybe the USA needs everyone to have a new ssn and ban with very strict penalties is use by any one other than the state and then only for highly restricted usages as it is in the UK

> ah lovely "papers please citizen" and what happen when friend computer with all this proof of identity gets hacked. While it doesn't solve the "papers please" aspect: 1. Card holds biometric data of person, plus PIN. Card is the only thing that holds this. 2. All card does is output "yes or no" if you are you. 3. You have or use a reader for authenticating who you are. The reader takes you biometric data (fingerpri…

[deleted]

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#477

Post by yahna »

I just want to complain about the credit freeze option for a second.

Like many other people I decided to use this because of the breach, I went to the government identity theft site and found some links.

Equifax - Fill out the form. "Additional information required" please mail stuff to us.

Experian - In your state (washington) there is an 11 dollar fee for this service.

Transunion - Fill out a signup form, complete with god damn security questions. Do the quiz about stuff on my credit report. 10 dollar fee.

Go fuck yourselves you fucking bastards. I hope experian goes out of business because of this, I really do.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#478

Post by c3534l »

jjm wrote: post #70

It's time for this draconian type of business service be disrupted. It's gotten too big and unregulated. We often question monopolistic behavior with regard to market share and competition for physical goods. However we don't see this type of questioning with regard to data monopolies. Hate to say it that while I enjoy the use of Google and Facebook, they may also fall into this arena. Though with those companies at…

Equifax isn't a monopoly. There are four major credit bureaus in the US. At best that's an oligopoly, but all that realistically does in this situation is provide more points of security failure.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#479

Post by subroutine »

joe_the_user wrote: post #426
dragonwriter wrote: post #415

Earlier quoted context omitted.

> The government can't just dissolve a corporation on a whim. Not on a whim, but for (e.g., in Delaware) “abuse, misuse or nonuse of its corporate powers, privileges or franchises.” (Delaware Code Title 8, § 284.) > We have due process and the rule of law. While rarely used in practice currently (it was more used in the past, and there is a movement to revive the practice), the law provides for charter revocation for…

The point is that charter revocation requires both the executive and judicial branch to agree. Moreover, I think I can guarantee that any vague sounding statement like "abuse, misuse or nonuse of its corporate powers, privileges or franchises." has been translated into a series of relatively specific conditions by the courts. You can't just sue someone for being vaguely terrible. Basically, however appalling the unac…

It doesn't seem like the executive and judicial branches will need to get involved whatsoever if there is a multibillion dollar lawsuit; if successful this will basically 'dissolve' Equifax.

Re: Equifax Faces Multibillion-Dollar Lawsuit Over Hack

#480

Post by yahna »

yuliyp wrote: post #458
panic wrote: post #438

Earlier quoted context omitted.

Since Congress defines what the law is, couldn't they do it? The only law binding Congress's lawmaking powers is the Constitution, and I don't think it restricts their ability to dissolve corporations.

It does actually have such a restriction (Article 1 Section 9): "No bill of attainder or ex post facto Law shall be passed." Further, it prohibits the states from passing such laws as well (Article 1 Section 10).

If Equifax gets sued into bankruptcy and the government passes a law for next time this happens I'd be okay with that outcome.
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