February 28, 2018

Salon: Elizabeth Warren: Equifax might profit off its data breach

Equifax has not told the whole story when it comes to its massive security breach first reported last September, Sen. Elizabeth Warren (D-MA) says. Over the last five months, her office investigated the breach and presented its findings in a new report, "Bad Credit: Uncovering Equifax's failure to protect Americans' personal information." In summation, Warren told Marketplace Tech's Molly Wood, "What they did was worse, a whole lot worse, than they originally admitted."  


Now, Warren is saying that not only did Equifax downplay the extent of the breach and stumble when it came to informing consumers about the hack, but also, that "Equifax is still making money off their own breach."

After interrogating Equifax executives during Senate hearings, engaging independent experts and questioning federal regulators and other credit-reporting agencies, Warren, with Sen. Mark Warner (D-Va.), is introducing legislation that would penalize security breaches at Equifax or other credit-rating agencies. Warren wants to ensure that Equifax, or any credit-reporting agency, makes security a priority, and moreover, that these companies will face consequences for their failures.

Read the full article on Salon's website here

By:  Rachel Leah
Source: Salon