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Equifax doesn't want consumers to get their $125

nytimes.com

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Re: Equifax doesn't want consumers to get their $125

#11

Post by cwkoss »

noodlesUK wrote: post #7
cwkoss wrote: post #6

If anyone is getting a mortgage or refinancing soon, ask your lender to 'drop' equifax without running your score with them - just take the score from the other two. Equifax is an unnecessary security and privacy risk. They are a horrible company that needs to go out of business. Make their customers feel embarrassed to be doing business with them.

Does this actually work? Do bank employees have any control of the credit check process?

My lender always drops the lowest of the three scores, so I was able to just say "I'm going to keep looking at other lenders if you contact Equifax on my behalf. Can you agree to not use Equifax on this deal if I agree move forward today?" and it wasn't a problem.

Some of the larger lenders may not have this flexibility.

Re: Equifax doesn't want consumers to get their $125

#13

Post by cwkoss »

dheera wrote: post #8
cwkoss wrote: post #6

If anyone is getting a mortgage or refinancing soon, ask your lender to 'drop' equifax without running your score with them - just take the score from the other two. Equifax is an unnecessary security and privacy risk. They are a horrible company that needs to go out of business. Make their customers feel embarrassed to be doing business with them.

I tried this when signing up for a Chase credit card and they said that it was their policy to use Equifax. (I had a credit freeze in place with Equifax at the time.)

You have to be willing to walk away if they say no, works best if the company cares about losing the deal - credit card signups might not be lucrative enough for a human to get involved and care.

Re: Equifax doesn't want consumers to get their $125

#14

Post by 29athrowaway »

ummonk wrote: post #9
tracer4201 wrote: post #5

Is Equifax actually liable or responsible for anything? No jail time or other penalties for executives. Okay so how are they held accountable?

Jail time for executives seems a little excessive for some employee merely failing to apply a security patch... On the other hand, this settlement shouldn't have been capped at such a ridiculously low amount.

> merely failing to apply a security patch

...and leaking information about every working age adult in the US.

And having a music major as chief security officer.

And having sensitive data stored as plaintext.

Their entire business is about managing information. They failed to do the only thing they are supposed to do.

Re: Equifax doesn't want consumers to get their $125

#15

Post by jakobegger »

ummonk wrote: post #9
tracer4201 wrote: post #5

Is Equifax actually liable or responsible for anything? No jail time or other penalties for executives. Okay so how are they held accountable?

Jail time for executives seems a little excessive for some employee merely failing to apply a security patch... On the other hand, this settlement shouldn't have been capped at such a ridiculously low amount.

> Jail time for executives seems a little excessive for some employee merely failing to apply a security patch...

No, it's not. If you collect personal information of almost 150 million people, you have to take measures to protect that data.

If you fail to do that, you can't just say "oops, I didn't mean that"...

Re: Equifax doesn't want consumers to get their $125

#16

Post by hamilyon2 »

I don't understand it. Here is hn, where everyone knows that cybersecurity is 100% offence 0% defence. It is basically our job to secure systems and we all agree it is pretty much impossible, unless you airgap every computer in building and glue every USB port.

Then, knowing that, we blame equifax for data breach. Equifax is fat target and it was matter of time data would be stolen.

Re: Equifax doesn't want consumers to get their $125

#17

Post by fastball »

hamilyon2 wrote: post #16

I don't understand it. Here is hn, where everyone knows that cybersecurity is 100% offence 0% defence. It is basically our job to secure systems and we all agree it is pretty much impossible, unless you airgap every computer in building and glue every USB port. Then, knowing that, we blame equifax for data breach. Equifax is fat target and it was matter of time data would be stolen.

Equifax's security practices were laughably bad.

Re: Equifax doesn't want consumers to get their $125

#18

Post by Angostura »

hamilyon2 wrote: post #16

I don't understand it. Here is hn, where everyone knows that cybersecurity is 100% offence 0% defence. It is basically our job to secure systems and we all agree it is pretty much impossible, unless you airgap every computer in building and glue every USB port. Then, knowing that, we blame equifax for data breach. Equifax is fat target and it was matter of time data would be stolen.

> we all agree it is pretty much impossible, unless....

... well, not waiting months to patch a vulnerability in a well-known piece of software us probably a start.

Re: Equifax doesn't want consumers to get their $125

#19

Post by kalleboo »

hamilyon2 wrote: post #16

I don't understand it. Here is hn, where everyone knows that cybersecurity is 100% offence 0% defence. It is basically our job to secure systems and we all agree it is pretty much impossible, unless you airgap every computer in building and glue every USB port. Then, knowing that, we blame equifax for data breach. Equifax is fat target and it was matter of time data would be stolen.

I agree with you, but if you can't secure the data, you shouldn't collect it in the first place. Not collecting data to begin with is a big part of the GDPR.
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