Equifax has agreed to pay $600 million nationally as part of a settlement over a 2017 data breach that exposed the credit information of 147 million people — 56 percent of American adults.
The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach that affected nearly 150 million people.
This announcement brings the total number impacted by the massive hack to about 148 million people and renews lawmakers' scrutiny of the company's response to the data theft.
When people tried to visit a certain page on the company's website Thursday, they got an error message: "We're sorry ..." Equifax says it is looking into a report of fraudulent links on its site.
For most of our lives, Equifax has been slurping up our financial data. Now the company's been hacked and our data is loose. Today, we trace this mess back to two brothers and one fateful decision.
Republicans and Democrats alike are upset about the massive hack of Social Security numbers and other sensitive information at the consumer credit reporting company.
Equifax's former CEO Richard Smith and Wells Fargo CEO Tim Sloan both said "sorry" for the harm their companies have inflicted on consumers. But lawmakers scolded them in two different hearings.
The company's interim CEO promises to "let consumers easily lock and unlock access to their Equifax credit files." The service would be "offered free, for life."
The credit reporting agency said Chairman and CEO Richard Smith is retiring — just weeks after Equifax acknowledged that hackers had accessed the personal information of up to 143 million consumers.
The credit reporting agency set up a website to help people determine whether they had been affected by a cyberattack. But on Twitter, Equifax repeatedly pointed people to a phishing site.
The day that Equifax said millions of Americans' personal information had been exposed, lawmakers were considering legislation the industry favored. Now, some are calling for tougher regulation.
Equifax is already struggling to retain public trust after it waited at least a month to disclose a cyberattack that potentially impacted the personal information of millions of people.
The credit-rating company last week said it was hacked, leaving 143 million consumers' personal information exposed. Equifax now faces lawsuits and investigations. Read tips on safeguarding your data.
Equifax says that at the time, the executives, who sold nearly $2 million in stock, didn't know of the breach, which exposed personal data of 143 million Americans. Consumers struggle to get answers.
The international credit reporting agency says a cybersecurity breach exposed Americans' personal information — including Social Security numbers and addresses — for a span of about two months.
