Morning scan

Equifax CEO Smith ‘retires’; Senators scold SEC chief

09/27/17

The embattled Smith may lose severance benefits, depending on firm’s probe into data breach; Clayton grilled about why the agency took so long to act after Edgar hack.

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Deloitte says it was hacked; another SoFi executive exits

09/26/17

The accounting firm says only a "very few" clients were affected by the cyberattack; former CEO Mike Cagney's wife, the lender's chief tech officer, is leaving.

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The rise and fall of Equifax; JPM plans Polish expansion

09/25/17

Ironically, the credit bureau’s rise was built on promise to safeguard customers’ most sensitive information; bank to build global ops center in Warsaw.

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AIG may shed its SIFI tag; Equifax CEO to testify before Senate

09/22/17

The Financial Stability Oversight Council meets Friday to discuss removing the label from the now shrunken insurer; Senate Banking Committee to hear Richard Smith on October 4.

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Equifax, the gift that keeps on giving; Fed's gift to banks

09/21/17

Did hackers access the credit bureau's computers two months earlier than the company first thought?; the Fed's decision to start unwinding its balance sheet should raise rates and boost bank profits.

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Wells Fargo got off easy; Massachusetts sues Equifax

09/20/17

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.

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DOJ probes Equifax; China bitcoin ban broadens

09/19/17

Investigation will include possible insider trading by company executives; “broad clampdown” on buying and selling digital currency.

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Equifax hack claims two executives; Cagney out at SoFi

09/18/17

The chief information officer and top security officer are retiring in the wake of the massive data hack; Mike Cagney is leaving the student loan lender.

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FTC starts Equifax probe; CFPB blesses alternative credit data

09/15/17

Agency confirms it’s investigating the credit bureau; regulator gives green light to Upstart Network to use cellphone payments, etc., to underwrite loans.

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Lawsuits against Equifax pile up; bitcoin price dives

09/14/17

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.

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