Equifax Data Breach

Identity Theft

Thursday, November 16, 2017

Data Breaches


Data breaches are a common source of identity theft and can devastate your credit score.  Check your credit reports for free at 

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Wednesday, October 4, 2017

Equifax says 2.5M additional individuals potentially victimized during data breach


In the wake of Equifax’s breach, the credit agency hired Mandiant to conduct a review. Mandiant’s review concluded that an additional 2.5 million consumers were subject to the breach, bringing the total to 145.5 million. “Equifax said it will mail notices to all potentially impacted individuals that have been identified since the Sept.


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Wednesday, October 4, 2017

Equifax interim CEO pens apology after data breach

Dominick Tavella, of Diversified Financial Consultants, suggests that consumers sign up for credit alerts in order to protect against unwarranted issuances of credit, resulting from the Equifax breach. Tavella cautions consumers about Equifax’s offer to provide credit monitoring free for a year, as the information gained through the data breach may not be used (or if it is used, discovered) within the next year.

See video clip here


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Wednesday, October 4, 2017

Why Equifax will continue to profit by selling your personal information


Equifax’s former CEO is testifying before Congress this week. In spite of the potential for great harm to consumers, industry-insiders expect little regulatory change in the wake of Equifax’s breach. The fact that credit is such an integral piece of the economy, generally—and the degree to which the economy relies upon a functioning credit reporting system—radical changes are unlikely anytime soon.

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Tuesday, September 26, 2017

Equifax CEO Richard Smith is out after stunning data breach


Richard Smith, the beleaguered CEO of Equifax, has stepped down from his post. Apart from referring to Smith's exit as a “retirement,” Equifax makes no effort to conceal the reasons for his departure. Since Equifax’s data breach was made public earlier this month, “[a]s much as one-third of Equifax's market value [has] vanished;” the corporation remains under investigation by a handful of  attorneys general, in addition to the FTC; and, its efforts to work with consumers in response to the breach has been dismal. 

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Sunday, September 24, 2017

Cuomo Proposes Stricter Regulations for Credit Reporting Agencies


NY Governor, Andrew Cuomo, announces new regulations for credit reporting agencies. Referring to July’s Equifax breach as “a wake-up call,” Cuomo said that NY will hold the credit industry to the same scrutiny as banks and other financial industries who do business in the state. Credit reporting agencies will be required to register with the Dep’t of Financial Services—which will have the authority to sue “if a company fails to comply or engages in prohibited practices deemed unfair, deceptive or predatory.”

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Sunday, September 24, 2017

Despite Equifax hack, GOP lawmakers want to deregulate credit agencies


Clear partisan lines emerge in response to the Equifax breach. Last week, Democrats introduced the Freedom from Equifax Exploitation Act, barring credit bureaus the ability to charge a fee for freezing consumer credit. House Republicans, on the other hand, propose to undermine credit-industry regulations with new legislation. The Credit Services Protection Act, introduced by Ed Royce (R-Cal.), and the FCRA Liability Harmonization Act, spearheaded by Barry Loudermilk (R-Ga.
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Friday, September 15, 2017

Equifax Security Breach: Agency Websites Melt Down Under Surge

In response to Equifax’s July data breach, droves of Americans rush to freeze their credit, overwhelming the “Big Three” credit bureaus’ resources.

See NBC News video here



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Monday, September 11, 2017

Georgia Congressman Must Withdraw His EQUIFAX-Friendly Bill


Industry watch groups are calling on Rep. Barry Loudermilk (R-Ga.) to withdraw proposed legislation that would limit “remedies for consumers who are victims of credit reporting abuses.” A congressional subcommittee met to consider the legislation last Friday as news broke of Equifax’s massive data breach. Rep.
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Monday, September 11, 2017

3 Reasons Breach Victims Might not Want Equifax Credit Monitoring


In response to the July data-breach, Equifax has offered their Trusted ID Premier service in exchange for consumers' right to sue Equifax. Industry watchdogs suggest cause for concern regarding Equifax’s terms. The Federal Trade Commission (FTC) warns that consumers’ vital data may have been stolen within minutes of the breach, and Matt Schulz, senior industry analyst at CreditCards.com, suggests that the information obtained by thieves may be utilized long after the period offered by Equifax to monitor credit reports under the agreement expires.

 

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Friday, September 8, 2017

The Equifax Data Breach: What to Do


Responding to news of Equifax’s huge data breach, the Federal Trade Commission (FTC) offers guidelines for consumers to protect themselves. The FTC suggests that consumers take proactive measures, such as checking their credit reports (available to consumers at  annualcreditreport.com), and monitoring “existing credit card and bank accounts closely for charges you don’t recognize.
Read more . . .


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