On the recordSeptember 14, 2017
on the Equifax data breach, what has transpired over the past several months is one of the most egregious examples of corporate malfeasance since Enron. Equifax has exposed the most sensitive personal information of over half of the citizens of the United States--names, addresses, Social Security numbers, driver's licenses, and, in some cases, even their credit histories. Clearly, there were inadequate data security standards at Equifax, which is deeply troubling on a number of levels. When you are a credit agency like Equifax, you have two principal jobs: calculating and reporting accurate credit scores and protecting the sensitive information of individuals that is funneled through that process. Stunningly and epically, Equifax failed to perform one of its two essential duties as a company--protecting the sensitive information of the people in its files. That is unacceptable, and there is no other word for it. Even following the failure by Equifax--this huge, massive failure-- the company and its leadership failed to effectively communicate this breach to the public and, in the aftermath of the announcement, failed to address public concern. The company knew about the breach and did not notify consumers that their information had been compromised for far too long a period. Because Equifax waited so long to report the breach, consumers were put behind the eight ball.…





