Equifax Lobbied To Kill Rule Protecting Victims Of Data Breaches

[corbe]

Equifax Lobbied To Kill Rule Protecting Victims Of Data Breaches

By Alex Kotch @alexkotch  AND David Sirota @davidsirota   On 09/08/17 AT 5:56 PM

If you want to know if you were one of the 143 million people whose data was breached in a hack of Equifax’s data, the company has a website you can use to find out — but there  appears to be a catch: To check, you have to agree to give up your legal right to sue the company for damages. The outrage that clause has now generated could complicate the company’s efforts — backed by Republican lawmakers — to block an imminent rule that would ban companies from forcing customers to agree to such provisions.

On  Friday, social media users spotlighted fine print on Equifax’s website that appears to force users to agree to waive their class action rights if they use the company’s website to see if their personal data was exposed by the recent hack. It is precisely the kind of arbitration clause that a pending Consumer Financial Protection Bureau (CFPB) rule is designed to outlaw — if Republicans and the Trump administration allow it to go into effect as scheduled later this month.

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http://www.ibtimes.com/political-capital/equifax-lobbied-kill-rule-protecting-victims-data-breaches-2587929

[IsailedawayfromFR]

They may as well fold up the company unless they offer some proof it is not as widespread as being claimed.

No one will now leave their personal data with them for credit checking, as we all have alternatives.

[Fishrrman]

Isailed wrote:
"No one will now leave their personal data with them for credit checking, as we all have alternatives."

I don't follow what you wrote above.

I have no choice as to whether or not Equifax gathers info on my creditworthiness.
If I had the choice, I would not permit ANY credit checking agency to accumulate data on me.

But I don't -have- that choice.
How does one prevent credit bureaus from doing so?

[Wingnut]

They may as well fold up the company unless they offer some proof it is not as widespread as being claimed.

No one will now leave their personal data with them for credit checking, as we all have alternatives.

WTF are you smoking?  Inhaling to much Seatle forest fire ash? Like we have a choice.

[driftdiver]

WTF are you smoking?  Inhaling to much Seatle forest fire ash? Like we have a choice.

What do they care, you can't sue em and they can't be held accountable.

[IsailedawayfromFR]

Isailed wrote:
"No one will now leave their personal data with them for credit checking, as we all have alternatives."

I don't follow what you wrote above.

I have no choice as to whether or not Equifax gathers info on my creditworthiness.
If I had the choice, I would not permit ANY credit checking agency to accumulate data on me.

But I don't -have- that choice.
How does one prevent credit bureaus from doing so?

you can be certain that those affected will strongly lobby those who use credit agencies like banks NOT to use Equifax.

After all, if a bank now divulges your data to them and another hack occurs, it can be sued for culpability

[Oceander]

They may as well fold up the company unless they offer some proof it is not as widespread as being claimed.

No one will now leave their personal data with them for credit checking, as we all have alternatives.

It isn't your choice whether your data is filed with Equifax. 

[Gefn]

Ping

@Cyber Liberty and @Slip18

Per earlier threads

Thank you for posting @corbe

[LadyLiberty]

I didn't have to agree with anything to see if I was possibly affected.  You do, however, have to agree to that stipulation if you sign up for their free credit monitoring service for one year.

I found out I was affected (hubby wasn't).  I am beyond pissed.  One year of free credit monitoring when my info is now out there for the rest of my life?  I don't trust them to monitor anything when they couldn't be trusted to keep it safe in the first place.  Besides, I don't expect them to survive this.  I signed up both hubby and me for Identity Guard.

[IsailedawayfromFR]

I signed up both hubby and me for Identity Guard.

that might be what this is all about - Identity protection.

So what happens if Identity Guard is hacked?

[LadyLiberty]

that might be what this is all about - Identity protection.

So what happens if Identity Guard is hacked?

What if you get hacked? 

LOL, I'm certainly not going to sit on my hands waiting to see if someone starts to open fraudulent accounts, buy cars, etc in my name. 

Two days after they learned of the data breach, three Equifax executives sold a good bit of stock.  It happened, it is not a subterfuge just to get people hooked on Equifax's monitoring service -- which I refuse to use because if they couldn't keep my info safe in the first place I can't trust them to adequately monitor.  It's the fox guarding the hen house.