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Stock impact report

Equifax failed to offer basic security, senator says [CBS News]

Equifax, Inc. (EFX) 
Last equifax, inc. earnings: 4/20 05:24 pm Check Earnings Report
US:NYSE Investor Relations: investor.equifax.com
Company Research Source: CBS News
Equifax ( EFX ) ignored warnings ahead of a massive security breach of data on more than 145 million Americans, then failed to quickly inform consumers, regulators and investors afterwards. That's according to a report from Sen. Elizabeth Warren, D-Massachusetts, who's calling for real consequences when credit reporting agencies screw up. The missive by Warren, a vocal critic of banks and other Wall Street entities, comes days after Reuters  reported  that the Consumer Financial Protection Bureau, or CFPB, had put a probe of the Equifax breach on ice. Started by former CFPB Director Richard Cordray, the agency's efforts regarding Equifax have derailed under its new head, Mick Mulvaney, the wire service reported. Equifax set up a flawed system to prevent and mitigate data security problems, ignored numerous warnings of risks to sensitive data, failed to notify consumers, investors, and regulators about the breach in a timely fashion, took advantage of federal contractin Show less Read more
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