Ironically, the credit bureau’s rise was built on promise to safeguard customers’ most sensitive information; bank to build global ops center in Warsaw.
A year ago, then-Wells CEO John Stumpf testified before two committees. It went so poorly Stumpf later resigned and his bank is still struggling to repair the damage. Here's how Equifax CEO Richard Smith can avoid the same fate.
Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.
Summit Credit Union in Madison, Wis., has filed what's believed to be the first lawsuit by a financial institution in connection with the massive data breach.
The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.
Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.
Equifax's data breach may be the most serious, given that it covered 143 million consumers and involved reams of confidential information, but it wasn't the largest. Following are the biggest to date.
An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many.
Sen. Elizabeth Warren, D-Mass., called for bipartisan action against Equifax during a Senate floor speech on Tuesday, criticizing the credit bureau for waiting several weeks after a massive data breach to reveal it to the public.
Normally tight-lipped about security moves, bankers tell how they are re-examining their systems for Equifax-like flaws and providing new cards, fresh accounts and reassuring advice for anxious customers.
