Equifax doesn't want consumers to get their $125 • Hacker News Board

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

#101

Post by iliketosleep » Tue, Sep 17, 2019, 1:51 PM UTC

pbhjpbhj wrote: post #63

iliketosleep wrote: post #48

Earlier quoted context omitted.

It appears that the higher you go up the corporate ladder, the more it is about connections rather than actual knowledge, to the point that knowledge carries almost zero weight and connections are everything. A lot of companies are like this, and most of them (including Equifax) are still going strong. Meritocracy at the bottom and nepotism at the top seems to be the deal. Anyway, the last line of the article sums it…

Look at UK politicians as an example, they usually have no specialist training for their brief (the government department they direct) and often jump from one section to another. There's a sense in which they have control of entire industry sectors, some higher learning or extended experience should really be required.

I think it's because their job is to make purely political decisions, leading to decisions that on the surface actually look insane.

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

#102

Post by benj111 » Tue, Sep 17, 2019, 1:52 PM UTC

criley2 wrote: post #92

beepboopbeep wrote: post #89

Earlier quoted context omitted.

I swear this is the motto of hacker news. "Everything sucks and you're wasting your time trying to change it" - HN

Not just hacker news, it's pervasive in any community where people who value intelligence meet. It's because cynicism is a lazy shortcut to a 'smart opinion'. How do we sound smart with zero effort? Well we don't want to be gullible (everything is good and fair!) so we do the opposite (everything is corrupt and bad!). I really wish it were more than that.

So what you're saying is, everyone says something is black (or white to appear smart), so therefore to appear actually smart, I should say everything is a shade of grey?

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

#103

Post by benj111 » Tue, Sep 17, 2019, 1:54 PM UTC

delinka wrote: post #53

drcode wrote: post #50

Earlier quoted context omitted.

Yeah, instead of getting my lender to give me a better interest rate or a discount on fees, I'm going to instead use my negotiating leverage to make sure Equifax makes $20 less revenue.

Might as well not even vote. Your one votes can't turn the tide.

That's why we get people like Trump.

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

#104

Post by argd678 » Tue, Sep 17, 2019, 1:54 PM UTC

It seems like companies only get the message when there’s jail time involved. None of the companies would freeze my credit since their web sites said some unspecified value couldn’t be verified for me, despite confirming my data was indeed lost. Pretty sure, like other regulations that include jail time, this wouldn’t have happened or their website to freeze my credit would have worked.

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

#105

Post by [deleted] » Tue, Sep 17, 2019, 1:56 PM UTC

harryh wrote: post #98

aloknnikhil wrote: post #91

Earlier quoted context omitted.

You're right. The title is not very accurate. The text from the Equifax Settlement Administrator > Your Equifax Claim: You Must Act by October 15, 2019 or Your Claim for Alternative Compensation Will Be Denied. The amount you receive in connection with your alternative compensation claim may be significantly reduced depending on how many valid claims are ultimately submitted by other class members for this relief. Ba…

Equifax didn't send you that email. If you read further down in the e-mail it even says "This email is from the Court-appointed settlement administrator, not Equifax."

[deleted]

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

#106

Post by aloknnikhil » Tue, Sep 17, 2019, 1:58 PM UTC

harryh wrote: post #98

aloknnikhil wrote: post #91

Earlier quoted context omitted.

You're right. The title is not very accurate. The text from the Equifax Settlement Administrator > Your Equifax Claim: You Must Act by October 15, 2019 or Your Claim for Alternative Compensation Will Be Denied. The amount you receive in connection with your alternative compensation claim may be significantly reduced depending on how many valid claims are ultimately submitted by other class members for this relief. Ba…

Equifax didn't send you that email. If you read further down in the e-mail it even says "This email is from the Court-appointed settlement administrator, not Equifax."

Fair enough. That just makes the whole thing even worse. There's basically no hope in receiving the compensation anymore.

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

#107

Post by lvh » Tue, Sep 17, 2019, 2:02 PM UTC

harryh wrote: post #61

The title of this post (which, admittedly, was taken from the NYTimes) isn't really correct. The terms of the settlement have been set. Equifax's financial outlay is fixed. All of the post settlement divvying up of the funds is being administered by the government bodies who negotiated the settlement, not Equifax. Equifax's desires about how the money gets divvied up at this point are irrelevant.

Mostly agreed. My understanding is the divvying up is not a govt entity, and the judge still has to approve the settlement, which isn’t a foregone conclusion, so it’s not entirely true that Equifax is out of the woods. Also, the reputational damage hits them even if they’re not the proximate actor here.

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

#108

Post by jfengel » Tue, Sep 17, 2019, 2:02 PM UTC

harryh wrote: post #61

The title of this post (which, admittedly, was taken from the NYTimes) isn't really correct. The terms of the settlement have been set. Equifax's financial outlay is fixed. All of the post settlement divvying up of the funds is being administered by the government bodies who negotiated the settlement, not Equifax. Equifax's desires about how the money gets divvied up at this point are irrelevant.

I was a little confused by that. My best guess is that they're hoping that they can shuffle enough people off onto credit monitoring that the hundred million people getting a nickel apiece don't demand they re-open their settlement?

That seems unlikely. Perhaps they're hoping that some of their new credit monitoring customers will like it so much that they'll pay for the service after the term expires?

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

#109

Post by Wheaties466 » Tue, Sep 17, 2019, 2:03 PM UTC

ummonk wrote: post #12

I'm definitely going to write a letter objecting to the settlement, and will urge everyone I know to do so as well.

I don't remember where I saw this, but I do remember reading that if you are going to object you cannot object to the settlement amount, just the settlement in general. And reasoning for the objection cannot be monetary.

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

#110

Post by atwebb » Tue, Sep 17, 2019, 2:03 PM UTC

msla wrote: post #100

phyzome wrote: post #99

Are we "consumers" now, rather than "victims" or "citizens"? Are we defined by what we buy?

> Are we "consumers" now, rather than "victims" or "citizens"? Are you a child, a parent, a sibling, or a citizen? Or are you all of those things depending on context? I get what you're saying, but you chose a way of expressing it which invites immediate response.

They were saying that in this context it should say victims.

Saying consumers changes the way it is read.

Following your logic try this one:

Equifax doesn't want children to get their $125

It reads differently.