'Monopoly Man' Trolls at the Equifax Senate Hearing

Frederick Owens
October 12, 2017

Earlier this month, the credit reporting company announced that crucial, identifying information belonging to almost half the country may have been compromised, including birth dates, home addresses and Social Security numbers.

Equifax and other credit rating companies were advised in March by the Department of Homeland Security's Computer Response Readiness Team that certain computer vulnerabilities required patching.

Smith also said Equifax was "disappointed" with the rollout of a special website and call centers to deal with the fallout from the breach.

In a message on Twitter, Americans for Financial Reform said Werner was there "to protest Equifax's behaviour in the wake of the breach, and to draw attention" to forced arbitration.

Smith appeared before the House energy and commerce ommittee on Tuesday, where he expressed his remorse and desire to made things right, but had frequent testy exchanges with lawmakers. "But Equifax will be just fine-heck, it could actually come out ahead".

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The company said Monday that approximately 2.5 million additional US consumers were potentially impacted by the cyber security breach, for a total of 145.5 million whose sensitive personal information was compromised.

On Tuesday, he apologized for the personal data being breached, and said it took weeks for the credit bureau to realize how widespread the hack was. The board was notified on August 22.

"Equifax is making money, millions of dollars off its own screw-up and meanwhile the potential cost to Equifax are shockingly low", Warren told Smith, 57, during the US Senate Banking Committee hearing. In addition, Rep. Greg Walden (R-Ore.) said, "we're here today to do what Equifax hasn't done the last few months, and that's put their customers first".

That activity was eventually identified on 31 July, but the scale of the breach and whether any information had been stolen was not immediately clear at that time, he said. Walden said in opening remarks at the hearing.

Complete with a black top hat, white mustache, and monocle, Pennybags watched as Smith discussed the cybersecurity breach of his company's database (or community chest, if you will).

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