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The House report concluded that Equifax 'failed to fully appreciate and mitigate' the cybersecurity risks and placed corporate growth over data security.

history, compromised the authenticating details, including dates of birth and social security numbers, of more than half of American consumers. consumers, was 'entirely preventable.' The breach, one of the largest in U.S. In a report released today, the House Committee on Oversight declared that the Equifax breach, which affected 148 million U.S. Lawmakers introduce Legislation Regulating Equifax, Credit Reporting Agencies (May.EPIC has recently renewed calls for the creation of a US Data Protection Agency. Under the terms of the settlement, Equifax will pay up to 425 million to consumers impacted by the breach as well as a 100 million civil fine. 'Reforms should not just fix these problems but also aim to transform the industry for the better,' he wrote. In the Harvard Business Review, Rotenberg explained the significance of the breach.

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Rotenberg warned lawmakers and regulators that 'the Equifax data breach is one of the most serious in the nation's history.' EPIC urged lawmakers to update federal privacy laws and also ensure that the CFPB pursues an effective investigation.

EPIC President Marc Rotenberg testified before the House in 2018 and the Senate in 2017 about the Equifax breach. The company, which offers authentication services, failed to safeguard the names, addresses, dates of birth and SSNs of 147 million Americans, and then failed to act once aware of the breach. The CFPB, the FTC, and 48 State AGS today announced a settlement with Equifax arising from the 2017 data breach that compromised personal data of 143 million Americans.

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EPIC President Marc Rotenberg testified before the Senate Banking Committee and recommended free credit freezes and other consumer remedies following the 2017 data breach. consumers with 6 free credit reports per year. The settlement also requires Equifax to provide all U.S. Supporting documents are necessary if you seek payment for time lost or costs because of the breach. Credit monitoring or the $125 cash payment is easy and requires no documentation, though the actual amount provided may be less depending on the total number of claims. If you spent time recovering from the breach or lost or spent money because of the breach, you can request payment of up to $20,000.

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'Equifax Settlement: Exercise Your Rights!': After a settlement with Equifax, consumers can now file a claim for free credit monitoring or a cash payment of $125.

It must be mandated by Congress.' EPIC has called for passage of the Online Privacy Act, H.R. And in the Harvard Business Review, Rotenberg explained that 'consumer privacy is not a goal achieved by markets. government to safeguard the personal data of Americans has placed American consumers at risk from foreign adversaries. Rotenberg warned lawmakers and regulators that the failure of the U.S. They allegedly conspired to hack into Equifax's computer networks, maintain unauthorized access to those computers, and steal sensitive, personally identifiable information of nearly half of all American citizens. government has indicted four members of China's military on charges of hacking Equifax to exploit the personal data of 150 million Americans.

Chinese Military Charged with Equifax Breach: The U.S.

There have been larger security breaches by other companies in the past, but the sensitivity of the personal information held by Equifax and the scale of the problem makes this breach unprecedented. The Equifax breach is unprecedented in scope and severity. The credit card numbers of approximately 209,000 consumers were also breached.

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The data breached included names, home addresses, phone numbers, dates of birth, social security numbers, and driver’s license numbers. Equifax, one of the three largest consumer credit reporting agencies in the United States, announced in September 2017 that its systems had been breached and the sensitive personal data of 148 million Americans had been compromised.