Equifax: First the hacking, then the lawsuits

Hacking

However, the New York Attorney General's Office clarified with Equifax that contract language applied to the identity theft products and not potential arbitration related to the data breach. "If any of the data was exposed, you will be living with that for the rest of your life", said Rich Mogull, who runs the security research firm Securosis. "Lifetime credit monitoring. Reimbursement for all other freezes". So each time you apply for a credit card, mortgage or loan, you need to lift the freeze a few days beforehand.

- Closely monitor their own credit reports, which are available free once a year, and stagger them to see one every four months.

Schatz has teamed up with Elizabeth Warren (D-Massachusetts) and Claire McCaskill (D-Missouri) to re-introduce a bill Monday - it was called the Stop Errors in Credit Use and Reporting (SECURE) Act when it was last introduced, in 2015 - to help Americans catch and correct credit report errors.

Leach noted that if an unauthorized person opens a credit account in the name of a consumer and incurs debts, the consumer is not legally obligated to pay those debts. He says someone likely made a programming or configuration mistake. "It's really up to the institution to have better security", said Rivers.

As Stockley rightly points out, if Equifax had chosen randomized PINs, the chances for thieves to guess them on the first go would be one in 10bn.

The site says once you've submitted your information you will receive a message indicating whether you've been affected.

Slovakia, Hungary Not to Dismiss Migrant Quota System Amid ECJ Decision
Under the plan, Hungary must admit more than 2,300 asylum seekers, while Slovakia must in the long term take in 1,400. As Deutsche Welle reports , "Only 24,000. refugees from Greece and Italy have been transferred to other states".

"It's teaching people entirely the wrong things about using the internet securely", Weidman said.

Equifax actually figured out it had been hacked back in July, and apparently spent the time since setting up a site to respond to it and let people check if they are affected. Hopefully, this will all end well and without a lot of hassle for the people affected by this cyber attack. Credit bureaus like Equifax are lightly regulated compared to other parts of the financial system.

The Bureau of Consumer Credit Protection, which administers the Fair Credit Reporting Act in ME, issued a news release Friday afternoon encouraging people to take the breach seriously and consider basic steps to protect their identify, financial accounts and credit reports.

According to regulatory filings, on 1 August, chief financial officer John Gamble sold shares worth $946,374 and Joseph Loughran, president of USA information solutions, exercised options to dispose of stock worth $584,099. The Atlanta-based company now faces multiple state and federal investigations, and a proposed multibillion-dollar class action lawsuit was filed against Equifax. Eight million New Yorkers were reportedly impacted.

Because July 29 was a Saturday, it's possible that the three executives didn't know about the breach or its severity at the time they sold the stock, Jeff Meuler, a Robert W. Baird & Co. analyst, said Friday in an interview on Bloomberg Television.

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