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Equifax: More Fallout

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‘The company failed at the one thing it absolutely must be good at. It failed in appalling and disastrous fashion.’

‘Should the Consumer Financial Protection Bureau, the Federal Trade Commission, and any other governmental agency wipe Equifax from the earth? Maybe.

At this point, I think it depends on how Equifax handles this, and early returns are that the company is screwing up its response to the data breach just as much as it screwed up by exposing people’s data in the first place.

First off, the company found out about the breach in late July, but didn’t tell people about it until September 7 – more than a month after the breach was discovered.

But as Bloomberg reported Thursday evening, three of the company’s executives dumped their stock in the mean time.’

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Equifax reveals huge data breach 

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Equifax, which supplies credit information and other information services, said Thursday that a data breach could have potentially affected 143 million consumers in the United States.

The population of the U.S. was about 324 million as of Jan. 1, 2017, according to the U.S. Census Bureau, which means the Equifax incident affects a huge portion of the United States.

Equifax said it discovered the breach on July 29. “Criminals exploited a U.S. website application vulnerability to gain access to certain files,” the company said.

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