Finance

Equifax stock tumbles 14% after credit score hack

Equifax stock tumbles 14% after credit score hack”

The information accessed in the data breach primarily included names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers, Equifax stated in its news release.

If the team of lawyers wins this case, Equifax will have to offer "more robust credit monitoring services with accompanying identity theft insurance " as well as statutory damages and other compensatory damages. "That's the big stick consumers have, and companies have been taking it away".

Some consumers said Equifax needs to take more steps to make amends, such as offering free credit monitoring services for several years or longer, not just one year.

Some 143 million Social Security numbers - almost half the USA - were hacked, the company has admitted.

The first step all experts, including Dang, recommend is freezing your credit.

It can range from $2 to $12 to initiate and then lift a credit freeze, depending on which state a person lives in.

Equifax didn't respond to request for comment on the matter. On Monday, it said in a blog post it's "listening to issues consumers have experienced and their suggestions" and had made changes, such as increasing call center support. Another thing that set the red alarm is the plummet of companies shares 12% in after-hours trading. And according to data cited by Fair Arbitration Now, only three consumers have filed arbitrations against Equifax since 2009.

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"We are engaged in a process that will provide consumers a randomly generated PIN".

As if having a storm the size of France on its way wasn't enough to be going on with, Americans learned late Thursday that Equifax lost to hackers valuable identity information on about half the adults in the country. The last one " recently had four credit accounts opened in his name without his authorization". It's important to place freezes at the major credit-reporting bureaus in order to halt scammers, which means consumers may need to shell out up to $30 for the service.

If you're among the roughly 44 percent of the US population who is potentially jeopardized by the Equifax breach, there's a significant chance you or someone in your family has had their personal data compromised.

To get more specific, the two contracts represent wagers that Equifax's stock price - which closed at $123.23 on Friday - will fall to either $100 or $105, respectively, by October 20. A freeze won't affect your credit score or report.

While a chunk of the United States population now risk their SSNs ending up in the hands of identity thieves and, perhaps, the dark web, the breach can be yet again an eye opener to consumers across the globe, including India.

Lenders use Equifax information to determine risks in financing people's mortgages and credit cards. Equifax is offering free credit monitoring for a year, which people can sign up for at the website.

Ultimately, the onus will probably be on consumers to try to protect themselves.



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