The Equifax Debacle, Part II
Which Reminded Me That Cahoots is One of my Favorite Words
On September 18, National Mortgage News posted this headline: “Are credit bureaus, housing groups in cahoots to kill FICO scores?” And there it was - cahoots!
To be fair, this latest not-so-subtle accusation did not have much to do with what happened at Equifax -- read all about that on a previous Blog here … or did it? If you simply scan hundreds of articles about the incredible disaster Equifax has promulgated, it seems a reasonable conclusion. Yes, not only are the Equifax ramifications incredible -- see below -- but why wouldn’t they start a new conspiracy theory? Before we head into the fallout, let’s dwell on some of my favorite conspiracy theories just for a minute.
Will the world end on Sept. 23? Conspiracy theorists say yes
Sometime between 2002 and now, Avril Lavigne died and was replaced by an actress.
Stanley Kubrick Faked The Moon Landing
End of digression, with apologies to Avril.
Back to Equifax. And may I simply say, “Holy Hailstorm, Batman!” Here’s just a summary of what has resulted from the major OOPS at Equifax in the US, Canada, Europe, etc. I have graciously sourced my summarized conclusions for those avid readers among us, but please know this is not even close to a complete list. For less avid readers, a simple headline scan should do you.
All of us of us have a high probability of having had our identity stolen.
So…Everyone’s Been Compromised? What To Do In The Wake of the Equifax Breach
KENNETH R. HARNEY: Theft of Equifax data could lead to years of grief for home buyers
Why Millennials should be really worried about the Equifax breach
Some Equifax Executives, those who have been terminated, probably want their identity stolen.
3 Equifax Executives Sold Stock Days After Hack That Wasn't Disclosed For A Month
2 Equifax executives retire following data breach - or -
Heads roll at Equifax: Chief information officer, chief security officer "retire" immediately
Equifax purges high execs, including security chief with two music degrees: reports
New evidence raises doubts about executives’ handling of the Equifax breach
Why Equifax Executives Will Get Away With the Worst Data Breach in History
After the Apology: What’s Next for Equifax CEO Richard Smith?
This will cost oodles of time and money -- big oodles.
Op-Ed Equifax messed up. And yet we have to clean up the mess
Equifax in the red as US senator Elizabeth Warren cracks down on company with new bill
Equifax breach: You can sue if your data was exposed; here's how
Class-Action Lawsuit Filed Against Equifax After Massive Data Breach* [See the last item in "Gargantuan legal cases will ensue" below if you would like to be included.]
Equifax's Massive Data Breach Has Cost the Company $4 Billion So Far
Another layer of fear and mistrust has descended upon us.
Experts say if you're not worried about Equifax data breach, you should be
Angry about Equifax breach? You should be
The Equifax Hacking Scandal Is a Reminder That Credit-Reporting Agencies Are Not Our Friends
Federal Trade Commission warns of new scam surrounding Equifax breach
No, Equifax Isn't Calling: Local Police Warn Of Latest Scam
Equifax messed up. Who pays? You do
Congress must take action.
Senators Introduce Protection Act After Equifax Hack
Blumenthal introduces data accountability bill in wake of Equifax breach
After Equifax disaster, we must demand credit reporting reform
Credit Bureau Reform Bill Coming Soon
Lawmakers Consider Bill To Waive Fees To Freeze Credit Reports
Himes introduces bill to protect consumers from credit data breach
This has happened before at Equifax.
Equifax suffered another data breach in March.
Equifax says March breach not related to major hack [well, hmmm … read the article and come to your own conclusion …]
Equifax says it was hacked in March, months before latest breach
Gargantuan legal cases will ensue.
Lawsuits pile up against Equifax following breach
Is Equifax making it hard to sue?
Canada’s privacy commissioner launches investigation into Equifax data breach
Equifax Lawsuit Questionnaire*
Some good news may result?
Senate Dems' Equifax bill may gain surprising bipartisan support
Equifax Hack Latest News: Credit Monitoring is Free Until Nov. 21
Warren bill would ban employers from requiring credit checks from job applicants
Could The Equifax Data Breach Be Good News?
So what’s a gal or guy to do? Freeze your credit now** and “melt” it when needed? Sign up for a credit monitoring system (not owned by Equifax)? Pester your congressional representatives to pass legislation ensuring this will never happen again? Re-read “What can you do about this right now?” Keep the faith, take heart, be confident that smarter people than me and you are working on a solution to this for everyone -- just like this perhaps!
** Just in case you choose to go the freeze route, find more information below. And yes, this process has to be repeated 4 separate times or, if you are married, then eight times (sorry)!
https://www.experian.com/freeze/center.html
https://www.freeze.equifax.com
https://www.innovis.com/personal/securityFreeze ***
*** From SavvyOnCredit: “In addition to the three most prominent consumer-reporting agencies (Experian, Equifax, and TransUnion) there are several other national agencies that may collect, store and disseminate your personal financial information. While the big three dominate the traditional market, other players compete by offering complementary services for lenders.
Innovis is the fourth national U.S. consumer credit bureau. Innovis began life as Associated Credit Bureaus before going through several name changes and ownership changes. Their competitive advantage was a broad file of negative or derogatory information. Today, they offer a range of supporting services: verification, flood zone determination, appraisal services, and more.”
