41–50 of 286 posts
Is Equifax actually liable or responsible for anything? No jail time or other penalties for executives. Okay so how are they held accountable?
Their head of security, Susan Mauldin, had zero security or computer skills - she was a music teacher.
https://www.marketwatch.com/story/equifax-ceo-hired-a-music-...
I'm definitely going to write a letter objecting to the settlement, and will urge everyone I know to do so as well.
Earlier quoted context omitted.
Wasn't a problem? What do you think is more likely: 1) They didn't follow company procedure of which big banks insist employees follow otherwise the employees risk 'liability for not picking the 3 credit agencies'. Or 2) They lied and followed company procedure, and not tell you the outcome from them. 3) Your lender probably passed the request and got 1) or 2) later in the chain.
You're missing the most important outcome: 4) They insist they have to use Equifax, lose the deal, and note why in their records.
tl;dr: For those who applied for the $125 payout option in the Equifax data breach settlement, you should've gotten an email requiring that you provide more information by October 15, or that your claim would be denied. The FTC confirms it's legit: https://www.ftc.gov/enforcement/cases-proceedings/refunds/eq... (FAQ 4 item 2) The article's author says Gmail filed it into the 'Promotions' folder.
Not a high bar to clear. Mint.com offers credit monitoring for free, as do a number of credit cards.
In an ideal world, a white-hat would write a script that uses all of the hacked data to apply for the settlement on behalf of the hacked users so that the affected users don't have to individually work out how to hack Equifax's claims process.
You're missing the point. There is no hack. You can claim, but in order to claim you need to provide evidence you have credit monitoring. So in order to get 31 cents from equifax you need to prove that you're using an expensive useless service that is either provided by equifax or one of their equally useless competitors. The hacking was done in court.
I'm definitely going to write a letter objecting to the settlement, and will urge everyone I know to do so as well.
To what? The Trump-controlled FTC? The castrated CFPB that now spends its time promoting a partnership with the most medieval red states called the "Financial Innovation Network" ( https://www.consumerfinance.gov/about-us/newsroom/bureau-sta... )? Where do you think that's going to get you?
Earlier quoted context omitted.
You're missing the point. There is no hack. You can claim, but in order to claim you need to provide evidence you have credit monitoring. So in order to get 31 cents from equifax you need to prove that you're using an expensive useless service that is either provided by equifax or one of their equally useless competitors. The hacking was done in court.
Creditkarma is free. Several credit cards/banks also offer free/bundled credit monitoring.
Is Equifax actually liable or responsible for anything? No jail time or other penalties for executives. Okay so how are they held accountable?
They were incredibly negligent and nepotistic. Their head of security, Susan Mauldin, had zero security or computer skills - she was a music teacher. https://www.marketwatch.com/story/equifax-ceo-hired-a-music-...
Anyway, the last line of the article sums it up well: "Everything about this fiasco just gets more and more surreal."
Earlier quoted context omitted.
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.
Earlier quoted context omitted.
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.