As many as 143 million Americans had their personal information stolen. Flip it. Tails, you are about to be the victim of identity theft. Almost all of the $18.4 million value comes from the supplemental plan, which has a more generous formula and is not subject to the same limits. From peak to trough, EFX market capitalization dropped $6.5 billion, in response to an isolated issue in one business segment that generated $112 million in operating income a year ago. If you want to open a new credit account, you must contact the credit reporting agency to temporarily lift the freeze. As far as Lifelock's disclosures indicate, the relationship is still active.
Equifax's 26% consolidated operating margin masks the profitability of the company's core credit bureau business, which accounts for more than 39% of sales and almost 51% of operating profit. As U.S. Sen. Sherrod Brown, D-Ohio, said in a statement, "there's no easy out for the working families that Equifax exposed to cyber criminals, so there shouldn't be a big payday for the company's CEO". Follow any notices or requests for information that the IRS sends you those notices will give you directions on the next step. If and when it does, this post will be updated. That's according to Jeff Bell, the CEO of LegalShield, a Lifelock competitor. And they must get better backup from regulators. As it happens, Lifelock used to buy these services from TransUnion, until switching over to Equifax. They compile sensitive financial and personal information. When you are done, the calculator tells you exactly how to fill out a new Form W-4. Still, he argues, "not sharing your data so it can be monitored is equally risky".
Thus, if someone were to use your information to buy items under your name, chances of qualifying for a loan or refinancing an existing mortgage becomes more hard. Perhaps every Wednesday at noon you'll set aside some time to check on your bank accounts and credit card statements. Among the rules under danger of repeal are measures meant to protect consumers by "curbing the use of "forced arbitration" in many consumers' financial contracts".
The breach lasted from mid-May through July, and hackers gained access to millions of consumers' names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers. Equifax, for the time being, has dropped its processing fee.
Congress also is not requiring the bureaus to offer free credit monitoring for life - although that, too, would help, since that can alert you to bogus credit accounts and help you clear up the damage.
Smith is the third executive to leave the company in the wake of the hacking scandal. Even recipients of major government programs like Medicare, Medicaid, and Social Security are affected. The idea that you have to pay to protect your own information, which was gathered and bartered without your consent, is outrageous. But the similarities end there: Many CEOs receive special "supplemental executive retirement plans" that offer benefits well in excess of what the average employee receives. Davis left his CEO's job after the $100-million settlement.
© 2017 Los Angeles Times under contract with NewsEdge/Acquire Media.
And that freeze should cost only $10, so you don't waste your money.
Your objective reporting on this incident is welcomed.
KELLY: Chris Arnold, thanks very much.
"I think you should also focus on the board of directors - what did they know and when did they know it?" They move me to where?