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by WorldMaker 1399 days ago
Also the Equifax breach seriously messed up people's credit, work life, and daily lives.

Given Equifax's one job is to protect people's credit you would have hoped they'd have gotten more than a slap on the wrist of a class action lawsuit. At the very least, you would have expected their clients (banks) to have had trust issues in remaining their clients and something of a long term impact on their revenue. (It's done nothing but grow its revenue since the data breach.)

2 comments

What's really rich about the Equifax breach screwing up people's credit is that Equifax also makes up the credit ratings. It's the corporate equivalent of "nice reputation you have there, would be a shame if something happened to it" type of protection racket. And before anyone accuses me of hyperbole remember that Equifax themselves call it "identity theft protection”.
> Equifax's one job

Oh, they've got their hands more pies than credit ratings

> Equifax also offers fraud prevention products based on device fingerprinting such as "FraudIQ Authenticate Device."

> selling consumer credit and insurance reports and related analytics to businesses in a range of industries.

> Equifax sells businesses credit reports, analytics, demographic data, and software.

https://en.wikipedia.org/wiki/Equifax#Products

Obviously I was being hyperbolic, which is partly why I emphasized it. Though this list doesn't actually read to me as being anything more than "monetizing everything they can even remotely related credit ratings". It's not really a different "product" selling credit ratings for their intended purpose to banks and selling them to non-bank businesses for looser moral purposes, is it?