Posted on 07/22/2019 8:53:33 AM PDT by C19fan
Equifax will pay up to a record $650million to settle US federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday.
The largest-ever settlement for a data breach draws to a close multiple probes into Equifax by the Federal Trade Commission, the Consumer Financial Protection Board (CFPB) and nearly all state attorneys general.
It also resolves pending class-action lawsuits against the company.
'This company´s ineptitude, negligence, and lax security standards endangered the identities of half the US population,' New York Attorney General Letitia James said in a statement.
(Excerpt) Read more at dailymail.co.uk ...
Hey equifax—— Here’s my address...............
So why are the feds and states sucking up money when the individual citizens were the ones that got scr#wed? This money is going to go to the pay the fat bureaucrat salaries, and gold-plated bureaucrat benefits that the citizens are already paying for in spades.
The citizens are scr#wed again!
More likely, each of the damaged citizens will receive a year's worth of Equifax credit monitoring and the class-action attorneys and some government agency will split the money.
Yep.
Read the article!
Hey equifax—— Here’s my address...............
~~~
Good luck with that.
The little guy on the street whose information was compromised, and who even if they haven’t been affected yet still has all their information out there on the dark web and other places, will have to fight red tape and bureaucrats to get a compensation. Governments can sue and put it all in a slush fun that is supposed to help affect consumers, but you know damned well they can’t keep their grubby hands off of it.
I’m lucky. In checking, my data wasn’t stolen. Then again, I rarely use ‘credit’ for anything.
Why this company (and the other two of the Big 3) are allowed to continue to operate is a mystery to me. They deal is information they never had permission to gather....
Paying $4.50 per person exposed,
to a government entity,
while doing nothing about the fact that Equifax had none of our permission to harvest our data,
and will continue to do so,
is not a satisfactory outcome.
“Credit bureaus”
They have our names, addresses, SSN’s, incomes, history of our accounts, payment history. We did not authorize this collection of personal data. Employers, potential marriage partners, and government agencies routinely look at our information, without our consent.
Then they allow our data to be sucked up by an unauthorized criminal without any notice to us or apology.
I say they should be sending each one of us at least $1,000.
while doing nothing about the fact that Equifax had none of our permission to harvest our data...
~~~
There are a LOT of companies harvesting data on you, and some of them selling it. There are companies that actually aggregate your personal data from all these sources, and then sell it. They don’t just have little bits of data. They’ve got a whole profile on you all the way from government tax/voting/auto data and bank/financial data and social media history all the way down to what you shop for on that discount/rewards card that the supermarkets push onto everyone.
translation: Some attorney pockets $500 million.
We each get a coupon good for two free credit reports.
You messed up the math 4 dollars and 50 cents per person, on average
Which is why we need robust privacy legislation that is newer than the 1988 legislation we are currently governed by. These guys really do need to be encouraged to find a new business model.
bump
Reparations!
Its victims will never be compensated.
For some reason the insurance industry likes to use the Roman numeral M for a thousand so MM is one million, or perhaps you already knew that.
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