Items Tagged with 'Equifax'

ARTICLES

  • FHFA flip-flops, won't blacklist VantageScore as FICO alternative for Fannie and Freddie

    FHFA removes pending prohibition on GSEs using credit bureau-owned model
    In a rather surprising development, the Federal Housing Finance Agency announced Tuesday that it will allow Fannie Mae and Freddie Mac to consider using VantageScore as an alternative to their current FICO credit scoring model, a dramatic reversal from a proposed rule issued late last year.
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  • FTC promises Equifax victims who want the $125 offer, "You will be disappointed"

    So many victims want the cash instead of credit monitoring, it’s blowing up the math
    Equifax allowed the private information of almost half the U.S. population to be stolen in a massive data breach in 2017 after failing to patch a security flaw, and now so many victims are choosing a $125 cash payment over credit monitoring, they’re blowing up the math. The FTC says the payment "will be a very small amount," not the $125 originally cited. That led one Twitter wit to say: “It's ironic because paying less than the full amount is exactly what Equifax tracks and punishes you for.”
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  • Former Equifax executive jailed for profiting off data breach

    Jun Ying admitted to dumping stock after learning of breach
    The former chief information officer of Equifax’s U.S. business admitted in court that he dumped nearly $1 million in company stock after learning of the massive data breach at the credit reporting agency, but before the breach was disclosed to the public.
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  • Equifax sets aside nearly $700 million for expected data breach payouts

    Books $690 million for settlements, fines
    It’s been nearly two years since Equifax first revealed that it had suffered a massive data breach that exposed the personal information of 148 million U.S. consumers to hackers, but the fallout from the breach is nowhere near over. In fact, Equifax just revealed how much it's expecting to pay out to deal with all of those issues – and it's a lot.
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  • ARMCO appoints Kyle Kehoe as its new chief revenue officer

    Kehoe has 20 years of experience as an executive and revenue leader
    ARMCO, a provider of enterprise financial risk mitigation solutions, recently announced Kyle Kehoe joined the company as its chief revenue officer. ARMCO President Phil McCall said he believes the company drafted a high-impact player in Kehoe, one who has delivered results across two decades and through some tough industry cycles.
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  • Equifax, FICO to partner to offer banks access to more consumer data

    Companies announce plans to package services to enhance consumer credit reporting
    Equifax and FICO credit score creator Fair Isaac are partnering to offer banks access to more consumer data. The companies started pitching each other's services earlier this month and announced their partnership Wednesday, according to The Wall Street Journal. Now, they will promote one another's offerings and sometimes approach clients together.
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  • Government watchdog calls for CFPB, FTC to have more authority over credit reporting agencies

    GAO wants regulators to have more power over Equifax, Experian, Transunion
    Equifax may be expecting sanctions from both the Consumer Financial Protection Bureau and the Federal Trade Commission over the credit reporting agency’s massive data breach that exposed the personal information of 148 million U.S. consumers to hackers, but one prominent government watchdog is calling for those agencies to have even more authority over Equifax and the like.
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  • Equifax expecting punishment from CFPB and FTC over massive data breach

    Reveals CFPB is planning to levy a fine
    Equifax is expecting various forms of punishment from the Consumer Financial Protection Bureau and the Federal Trade Commission over the credit reporting agency’s massive data breach that exposed the personal information of 148 million U.S. consumers to hackers, the company revealed recently.
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