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Articles tagged with: Equifax

AFR Statement: Groups Demand to Know How Much Money Credit Bureaus Will Make Off Data Breach
November 17, 2017 – 12:10 pm

American for Financial Reform, the Consumer Federation of America, the National Consumer Law Center, U.S. PIRG, and other nonprofit advocacy groups wrote a letter to the CEOs of all three companies asking for detailed information on how the data breach might be leading to higher revenues in credit freeze fees and credit monitoring services.

AFR Letter: How Much Will Credit Bureaus Make Off Equifax Data Breach?
November 17, 2017 – 12:01 pm

American consumers deserve to know how much money the big three credit bureaus — Experian, Equifax and TransUnion — will make due to the devastating data breach at Equifax.

AFR Statement: Senate Dodd-Frank Changes Would Benefit Banks Not Look Out for Consumers
November 13, 2017 – 5:16 pm

Congress ought to be passing robust new consumer protections, not doing favors for banks. Annual industry earnings by banks set a new record in 2016, and community banks saw even faster growth than big banks. Over 95 percent of community banks turned a profit last year.

AFR Statement: Equifax Earnings Highlight Broken Model of Credit Reporting
November 10, 2017 – 2:51 pm

The hack may even have been a boon to the bottom line of credit reporting companies, which charge consumers to freeze their credit report or monitor their credit, even though consumers are seeking these protections due to this massive breach.

AFR Statement: Monopoly Man Highlights Need for Congress to Act on Consumer Rights
November 10, 2017 – 2:45 pm

But the question is, what will Congress do after a hearing on data breaches? Will they act to restore our right to control information about our own lives, and protect our privacy, or will they let Equifax and other data brokers turn the problems they caused into an excuse for undermining existing state laws with a sham weaker federal standard that replaces them? Will they restrict access to the courts?

AFR in the News: ‘Monopoly man’ sits behind Equifax CEO at Senate hearing (Fox News)
October 5, 2017 – 9:15 pm

“A person dressed as the Monopoly Man (aka ‘Uncle Pennybags’) landed some prime real estate at a Senate banking committee hearing, seated behind Equifax CEO Richard Smith in a live-action photobombing… Amanda Werner [of Americans for Financial Reform and Public Citizen] walked into the committee hearing with a giant ‘Get Out Of Jail Free’ card for Equifax and Wells Fargo, with the statement ‘forced arbitration lets financial institutions escape accountability for wrongdoing.’”

AFR in the News: How Monopoly Man Won the Internet (NPR)
October 5, 2017 – 9:11 pm

“Monopoly Man became the Internet crush of the day on Wednesday, after upstaging former Equifax CEO Richard Smith at a Senate hearing on the company’s massive data breach. The board game character, whose name is Rich Uncle Pennybags, was brought to life by Amanda Werner, an arbitration campaign manager for Public Citizen and Americans for Financial Reform, groups that advocate for consumer rights and protections.”

AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration
October 4, 2017 – 1:08 pm
AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration

Americans for Financial Reform and Public Citizen are defending limits on forced arbitration from congressional attack with a delivery all 100 U.S. Senate offices: a mock “Get-Out-of-Jail-Free” card for the banks inspired by the board game Monopoly. An activist dressed as the billionaire Monopoly Man led the delivery.