41–50 of 459 posts
well.. when individuals lose a court battle, they owe the winning party money from their future earnings, in case their current balance does not cover the sum owed. Why don't they make companies do that. It would only seem fair for the amount of damage they did :|
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Probably the same math they use to calculate our credit scores and everything else they screw up.
The math behind credit scores is quite good. They're very effective at predicting credit risk.
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Probably the same math they use to calculate our credit scores and everything else they screw up.
The math behind credit scores is quite good. They're very effective at predicting credit risk.
I'm curious about where the rest of the money went. Does anyone know?
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The math behind credit scores is quite good. They're very effective at predicting credit risk.
I had a recent 30 day delinquent payment reduce my credit score by 80 points. And this was because the letter in the mail was mid-delivered. Not that the credit card issuer, nor the credit agencies give two shits. This was after about 5 hours of calls ping-ponging between the two.
Surely the FTC and Equifax saw this coming? 150m people were included in the breach. Only 31m USD was allocated to give anyone who claimed 125 USD? How on earth did they do this math?
What do you want to bet the payment is less than $1 per claimant? $31MM for 150 million affected people. They knew this would be the result, and the FTC went along with it. I’m a free market right wing guy — and I’d have no problem with the government dismantling Equifax over this breach and its fallout. That company is chock full of assholes.
> Free credit monitoring provides a much better value
No, no it does not.
And who runs these monitoring services? Why of course, it's the credit reporting companies! Who else would it be. So not only do they know when fraud is happening to you, but they will happily ruin your life while knowing and charge you for the privilege of knowing this is happening to you. And maybe, if you're lucky and the tiny font legalese text is in your favor, you can stop the flow of awful things happening to you at any given moment in time. Events which may just have all been started because Equifax didn't give a damn in the first place about the security of your private information.
Anyone here a lawyer? I'm wondering if you submit a request to opt-out of the settlement if you could re-litigate a new settlement in the future?
Yes, of you opt out of a class action settlement you reserve the right to sue in the future. That being said, it would be expensive to go it alone. Some parties have had success in small claims court though (there have been previous HN comment threads on this).