Equifax stock is plummeting as questions start to pile up over the credit reporting agency’s massive data breach.
Due to the 143 million potentially impacted U.S. consumers, top government watchdogs and senators are demanding answers on what happened.
According to an article in Reuters by David Shepardson and Dustin Volz, “Two key U.S. senators on Monday asked Equifax to answer detailed questions about a breach of information affecting up to 143 million Americans, including whether U.S. government agency records were compromised in the hack.”
“Senator Orrin Hatch, who chairs the Finance Committee, and ranking Democrat Ron Wyden, also demanded that Equifax chief executive Rick Smith provide a timeline of the breach and its discovery,” the article stated.
Sen. Brian Schatz, D-Hawaii, even took to Twitter on Monday to call out Equifax. Below are only a couple of his tweets from his tweetstorm.
— Brian Schatz (@brianschatz) September 11, 2017
Your instructions are confusing. You are wasting people's time and causing a lot of anxiety. People aren't exactly sure what to do. https://t.co/jo3eAfg9tA— Brian Schatz (@brianschatz) September 11, 2017
Plus, this is on top of the Consumer Financial Protection Bureau, the House Financial Services Committee, and the office of New York Attorney General Eric Schneiderman announcing last week that they are each launching an investigation into the breach.
As it stands, very little is known about the situation beyond the timeline and what information the hackers could’ve taken.
The files potentially taken includes the names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers, of approximately 143 million consumers.
The scare is enough to cause Equifax shares to tumble. According to an article in CNBC, by Liz Moyer, Equifax shares “fell 8% on Monday on top of a 13% tumble on Friday after the credit reporting company disclosed a data breach affecting the personal information of 143 million people.”
And the story is still far from over. The company said that its investigation is “substantially complete,” but remains open, and is expected to be completed in the coming weeks.
Once their own investigation is over, they will have to answer to a growing handful of regulators, senators and consumers.