News Topic: Equifax

More than 100 suits have been filed since the company revealed the massive data breach last week; price of digital currency is down 25% since hitting a record high a week ago. ... Read full article

Rep. Carolyn Maloney, D-N.Y., sent a letter to the top executives at TransUnion and Experian on Wednesday asking them what steps they are taking to safeguard consumer data in light of the Equifax breach. ... Read full article

The best solution to the current broken identity system is to flip the authentication process from third parties to the users themselves. ... Read full article

Lenders aren’t happy with the way the credit bureau has responded to the data breach; JPM chief calls digital currency “a fraud.” ... Read full article

Thirty-six lawmakers signed a bipartisan letter Tuesday calling for an investigation into the sale of stock by Equifax executives between a data breach at the firm and when it was disclosed. ... Read full article

A mismatch of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution. ... Read full article

Banks should not point blame at the credit bureau but rather should step up and demonstrate their commitment to their customers. If you punt the problem to Equifax, it suggests you don’t really care. ... Read full article

TransUnion Chief Financial Officer Todd Cello said Tuesday the firm kept call centers open through the weekend to deal with the flood of calls from anxious consumers. ... Read full article

Online lender’s co-founder says “negative press” from lawsuits has become a “distraction”; company sought lighter regulation and limited legal liability for credit bureaus. ... Read full article

CIBC's Victor Dodig has big plans for the U.S., but other bank execs speaking at an investor conference Monday warned of risks in certain sectors. ... Read full article

Senate Finance Committee leaders sent a letter to Equifax CEO Richard Smith scrutinizing the scope of the company's data breach and its response. ... Read full article

Lawmakers signaled Monday that Congress will likely have a swift and powerful response to revelations that the credit reporting company Equifax was hacked, exposing 143 million people to identity theft. ... Read full article

The loss of 143 million consumers' personal data may prompt a regulatory backlash. ... Read full article

Everybody say it with me, “Customer data is a liability.” And the Equifax breach shows why. ... Read full article

One lawsuit has already been filed against Equifax in the wake of its massive security failure. But that’s the just beginning of the consequences for the credit bureau and the banks that use it. ... Read full article

Intruders accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers in what could be one of the largest data intrusions. ... Read full article

OnlyID, a joint offering from FIS and Equifax, is meant to become consumers’ single sign-on for bank and retail websites and apps. Longstanding relationships may give it a better shot at achieving network effect than previous attempts. ... Read full article

Despite rising home prices and a market where many older homeowners are loath to sell, home equity line of credit lending remains muted in all but one corner of the industry: credit unions. ... Read full article