March/2018
If you haven’t noticed, Equifax is in the news, again.
Equifax was hacked in September, 2017. At least that is what they admitted. Hackers got names, addresses, SS #s, account numbers and passwords of about 147 million people. Most recently, they were hacked again where names, and partial drivers license numbers were lost to the hackers. Equifax defends itself by saying that only part of the drivers license and no state of origin was obtained. That’s reassuring.
Equifax is one of 3 credit monitoring bureaus (Experian, TransUnion and Equifax) in the US. If you have any kind of credit, credit card, mortgage, car loan, Penney’s, Macy’s, school loans or any type of credit, you deal with a credit monitoring agency. By law. With or without your consent. You have no say as to what is recorded about you in their data. And it is all set up to protect you (well, really the creditor).
It boils down to the fox watching the hen house.
Equifax’s lax security is responsible for providing hackers and the “dark web” with the private, secret financial information of almost every adult in the US.
Sure, about half the population lives off grid (speaking of the financial grid). Those that are too young, too feeble, or too risky to obtain credit and have to live on a cash basis. Basically 100-150 million. The other 150 million lost their financial virginity, thanks to Equifax.
And, Equifax is predicted to make millions on the deal.
Wanna know what your elected representatives are doing in Washington? See above.
Your grumpy Uncle/Brother Dave.
Weary